Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture and films, to computer programs, databases, advertisements, maps and technical drawings. Generally speaking, a patent provides the patent owner with the right to decide how - or whether - the invention can be used by others.
Patent A patent is a form of right granted by the government to an inventor, giving the owner the right to exclude others from making, using, selling, offering to sell, and importing an invention for a limited period of time, in exchange for the public disclosure of the invention.
An invention is a solution to a specific technological problem, which may be a product or a process and generally has to fulfill three main requirements: Copyright A copyright gives the creator of an original work exclusive rights to it, usually for a limited time.
Copyright may apply to a wide range of creative, intellectual, or artistic forms, or "works". Industrial design right An industrial design right sometimes called "design right" or design patent protects the visual design of objects that are not purely utilitarian.
An industrial design consists of the creation of a shape, configuration or composition of pattern or color, or combination of pattern and color in three-dimensional form containing aesthetic value. An industrial design can be a two- or three-dimensional pattern used to produce a product, industrial commodity or handicraft.
Generally speaking, it is what makes a product look appealing, and as such, it increases the commercial value of goods.
The variety must amongst others be novel and distinct and for registration the evaluation of propagating material of the variety is considered.
Trademark A trademark is a recognizable signdesign or expression which distinguishes products or services of a particular trader from the similar products or services of other traders.
Trade dress Trade dress is a legal term of art that generally refers to characteristics of the visual and aesthetic appearance of a product or its packaging or even the design of a building that signify the source of the product to consumers. Trade secret A trade secret is a formulapractice, process, designinstrument, patternor compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors and customers.
There is no formal government protection granted; each business must take measures to guard its own trade secrets e. Object of intellectual property law[ edit ] The main purpose of intellectual property law is to encourage the creation of a wide variety of intellectual goods for consumers.
Because they can then profit from them, this gives economic incentive for their creation. Unlike traditional property, intellectual property is indivisible — an unlimited number of people can "consume" an intellectual good without it being depleted.
Additionally, investments in intellectual goods suffer from problems of appropriation — while a landowner can surround their land with a robust fence and hire armed guards to protect it, a producer of information or an intellectual good can usually do very little to stop their first buyer from replicating it and selling it at a lower price.
Balancing rights so that they are strong enough to encourage the creation of information and intellectual goods but not so strong that they prevent their wide use is the primary focus of modern intellectual property law.
Some commentators have noted that the objective of intellectual property legislators and those who support its implementation appears to be "absolute protection". The thinking is that creators will not have sufficient incentive to invent unless they are legally entitled to capture the full social value of their inventions".
Other recent developments in intellectual property law, such as the America Invents Actstress international harmonization. Recently there has also been much debate over the desirability of using intellectual property rights to protect cultural heritage, including intangible ones, as well as over risks of commodification derived from this possibility.
Financial incentive[ edit ] These exclusive rights allow owners of intellectual property to benefit from the property they have created, providing a financial incentive for the creation of an investment in intellectual property, and, in case of patents, pay associated research and development costs.
The value of intellectual property is considered similarly high in other developed nations, such as those in the European Union. One is to give statutory expression to the moral and economic rights of creators in their creations and the rights of the public in access to those creations.
The second is to promote, as a deliberate act of Government policy, creativity and the dissemination and application of its results and to encourage fair trading which would contribute to economic and social development. The arguments that justify intellectual property fall into three major categories.
Personality theorists believe intellectual property is an extension of an individual. Utilitarians believe that intellectual property stimulates social progress and pushes people to further innovation.
Lockeans argue that intellectual property is justified based on deservedness and hard work. Appropriating these products is viewed as unjust.
They argue that we own our bodies which are the laborers, this right of ownership extends to what we create.
Thus, intellectual property ensures this right when it comes to production. Innovation and invention in 19th century America has been attributed to the development of the patent system. Systems of protection such as Intellectual property optimize social utility.Intellectual property rights in the form of copyright try to balance two competing interests.
First is to encourage creativity by giving exclusive rights in creations. The second interest is to give the public the freest possible access to works of authorship.
These rights can include copyrights, patents, trademarks, and trade secrets. These rights may be enforced by a court via a lawsuit. The reasoning for intellectual property is to encourage innovation without the fear that a competitor will steal the idea and / or take the credit for it.
Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.
The National Intellectual Property Rights Coordination Center (IPR Center) stands at the forefront of the U.S. government’s response to global intellectual property theft.
It uses the expertise of its member agencies to share information, develop initiatives, coordinate enforcement actions, and conduct investigations related to IP theft. Michele Boldrin. Intellectual property (IP) refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.