Intellectual property make reference to formation of the mind, development, literary and imaginative works, and symbols, names and images used in trading. Intellectual property is divided into two categories, which is Industrial Property and Copyright. Industrial Property includes patents for creations, emblems, industrial designs and geographical demonstrations. Copyright covers formal works such as poems and novels, films, music, architectural design and creative works such as paintings and sculptures, protection against unfair competition, and all other rights resulting from intellectual activity in the industrial, scientific, literary or artistic fields. IP law protects creators of IP by granting to them legal rights to control the use …show more content…
Different forms of IP arise in different subject matter. However, the same subject matter may attract more than one form of protection. Rights is in conjunction to copyright including those artists who are performing in their performance, creators of phonograms in recording, and broadcasters of radio and television programmes. Intellectual property (IP) plays an essential role in driving innovation by providing a basis for return on investment in research and development. This is particularly the case where technology advances rapidly but where returns on investment may be slow. Everyone involved in a technology-based industry should have a basic understanding of the different types of IP and the rights granted by them. There are several form of intellectual property that can be applied to professional engineering, which is patents, copyrights, registered design, circuit layout protection, confidential information, trademarks and domain …show more content…
A protectable design may be 2-D or 3-D, and either manufactured or homemade. The design does not have to be aesthetically pleasing. Although a design registration does not protect the functionality of an article, a visual feature which happens to have a functional purpose will not preclude it from obtaining a design registration. Examples of well-known articles that have been protected by registered designs include Ken Done bed linen, the tread of a Dunlop pneumatic tyre, Speedo swimwear, a Malleys portable cooler and a Sunbeam kitchen appliance. It is important to understand that the term ‘registered designs’ has a different meaning to a ‘design process’ commonly referred to by engineers in industry. Whilst a ‘design process’ typically describes the process of generating a product, a ‘registered design’ is an IP right which protects the overall visual impression of a product
“Copyright is a fundamental right of ownership and protection common to all of the arts” (O’Hara & Beard, 2006, p. 8). “It is a form of intellectual Property (IP)” and it gives the owner exclusive rights to the copyright (O’Hara & Beard, 2006, p. 11).
Intellectual property is an incredibly complicated facet of the law. In the United States, we have many laws in place to control and limit profiting from others intellectual property. The issue is not only profiting from others intellectual property, but not purchasing the property from the originator as well. We will discuss why it is important to protect this property as well as why it is tremendously difficult to regulate all these safe guards. “Intellectual Property has the shelf life of a banana.” Bill Gates
According to our textbook, “Real property constitutes land and all things permanently attached to it (i.e. a house, a tree or coal below land). Intellectual property such as copyrights, patents and trademarks is personally owned but generally treated as a separate form of property by the law. Personal property is characterized by its portable nature; it can be carried from place to place (i.e. tangible personal property or intangible personal property)” (Roger, 2012).
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Consequently, innovation requires the support from intellectual property protection as it critical to fostering innovation. Intellectual property protects more than just an idea or a concept but it also protects genuine business assets that may be integral to the core services of the business and overall long-tern viability. Defensible intellectual property is one of the top things venture capitalists wanted to see in a business, particularly, a startup. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development. The strongest protection comes from registering the work thus enables the creators to put a claim upon their work into public view, and discouraging people from using the work without permission.
Governments provide the legal and social framework in market economies by establishing and protecting the rights to private property and to the economic gains derived from the use of that property. The government's protection of private property extends to land, factories, stores, as well as intellectual property. Intellectual properties are protected by exclusive rights, called copyrights, to protect such things as books, music, films, and computer software programs, etc; or patents, protect other types of inventions, designs, products, and manufacturing processes. These exclusive issued rights give the holders the rights to sell or market their products and creations for a specified period of time.
Wikipedia (2006) describes intellectual property as ¡§a legal entitlement, which sometimes attaches to the expressed form of an idea, or to some other intangible subject matter. This legal entitlement generally enables its holder to exercise exclusive rights of use in relation to the subject matter of the intellectual property. The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect, and that intellectual property rights may be protected at law in the same way as any other form of property.¡¨
Copyrights: Intellectual Property and Technology The Government and many other agencies around the world are continuously at work to improve protections for intellectual property rights and the enforcement of intellectual property laws. In today’s age of digital madness, passing legislation and actually enforcing of those laws becomes a very daunting task. However, the protection of intellectual property has both individual and social benefits. It protects the right of the creator of something of value to be compensated for what he or she has created, and by so doing; it encourages production of valuable, intangible, creative work In order to understand the difficulties surrounding the laws associated with intellectual property an understanding of the term is needed.
Intellectual property law includes the legal rules which determine the nature and scope of a particular class of immaterial or incorporeal objects; what the requirements are for the creation or establishment of such projects; which person or persons will acquire and enjoy rights in respect of such objects; what the content of such rights will be; how and when such rights may be enforced, and how such rights will be terminated.
Registered design – registered designs protect more deeply the way things look. A specifically shaped mobile phone or a patter in a pair of jeans could have a registered design.
Intellectual property, also known as IP, is an intangible asset that is the product of human creativeness and is also protected by the law. It was not until the later part of the twentieth century that intellectual property laws were necessary. Our world becomes more technologically savvy every day. While technology is becoming a big part of our lives, companies that produce these intangible assets are in competition for the legal rights that are associated with them. Some of the most common types of intellectual property rights include trademarks, copyright, patents and trade secrets.
Legal Protection of new inventions encourages the assurance of additional resources for further innovations. With Intellectual Property System, both public interest and innovators interest go hand in hand, hence providing an environment which inspires inventions and creativity benefitting everyone in the society.
This can be protected through the use of copyrights, patents, trademarks and trade secrets. Copyrights commonly safeguard original works of invention based on the WIPO , such as “literary works, music, dramatic works, pantomimes and choreographic works, sculptural, pictorial, and graphic works, sound recordings, artistic works, architectural works, and computer software”. With this copyright defence, the creator has the authoritative rights to “modify, distribute, perform, create, display, and copy the work. In addition to copyrights, patent is an exclusive right granted for an invention – a product or process that provides a new way of doing something, or that offers a new technical solution to a problem. Patents provide incentives to individuals by recognizing their creativity and offering the possibility of material reward for their marketable inventions. These incentives encourage innovation, which in turn enhances the quality of human life. Patent protection means an invention cannot be commercially made, used, distributed or sold without the patent owner’s consent. Thirdly trademarks are distinctive sign that identifies certain goods or services produced or provided by an individual or a company. Trademark protection ensures that the owners of marks have the exclusive right to use them to identify goods or services, or to authorize others to use them in
Intellectual Property Rights are the rights that given to persons over the creations of their minds, such as inventions, literary and artistic works, designs, and symbols, names or images that used in commerce. In the other words, it is refers to the ownership of intangible and non-physical goods. It is also the general term for the assignment of property rights through patents, copyrights and trademarks. They usually give the creator exclusive rights over the use of their creation for a certain period of time.
Intellectual property is information, original ideas and expressions of the persons mind that have profitable value and are protected under copyright, patent, service mark, trademark/trade secret regulation from replication, violation, and dilution. Intellectual property includes brand items, formulas, inventions, data, designs and the work of artists. It is one of the most tradable properties in the technology market.