People’s intellect creates artworks such as symbols, logos, brand names, or designs. These assets are called intangible and as such they must be protected. This is where intellectual property comes in handy.
What is Intellectual Property?
Intellectual Property (IP) is a property that includes creations of the human intellect that have value but don’t exist as a physical object. As we mentioned earlier intellectual property includes designs, logos, formulas, brand names, and other inventions created by human intellect.
All creators and owners of inventions need to protect their ideas by excluding others from using, them without authorization. This can be possible by the Intellectual Property law.
What is Intellectual Property law?
As we mentioned earlier Intellectual property rights are legal rights that provide creators protection for original works such as inventions, artistic works, scientific developments, etc.
The purpose of this type of property law is to encourage new creations, that might increase economic growth.
The intellectual property law includes copyright, trademark, patent, or other legal measure.
What is copyright?
Copyright refers to the legal right of the owner of intellectual property. This means that the only ones who have the right to reproduce the work are the original creators of the product as well as anyone to whom they grant the right.
What is a trademark?
The trademark identifies a product as belonging to a specific company. A trademark could be a phrase, word, symbol, or recognizable sign that indicates a specific product and differentiates it from all other products.
What is a patent?
A patent is a form of intellectual property that gives its owner the right to prevent third parties from using an invention for commercial purposes without permission. This invention can be a product or a process.
To be able to supply a patent for a given product, it is necessary to apply and be checked by the patent office successfully.
