Intellectual Property

Intellectual Property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The most well-known types are copyrights, patents, trademarks, and trade secrets.

Overview

Intellectual property laws give individuals and companies property rights to the information and intellectual goods they create, usually for a limited period of time. This legal protection intends to stimulate innovation and creativity, by giving creators time to profit from their work before it enters the public domain.

Types of Intellectual Property

Copyright

A copyright is a legal right that grants the creator of an original work exclusive rights to its use and distribution. This is usually only for a limited time, with the intention of enabling the creator to receive compensation for their intellectual investment.

Patents

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.

Trademarks

A trademark is a recognizable sign, design or expression which identifies products or services of a particular source from those of others. The trademark owner can be an individual, business organization, or any legal entity.

Trade Secrets

A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

See Also

• Intellectual Property Law
• Intellectual Property Rights
• Intellectual Property Infringement

References

Intellectual Property Resources
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