What is Intellectual Property

What is Intellectual Property?

As defined by World Intellectual Property Organization (WIPO), Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; symbols, names, and images used in commerce.

The original purpose of these rights is to encourage the creation of a wide variety of intellectual goods. Also, Intellectual Property Rights (IPRs) give people and businesses property rights to the information and the goods they create, usually for a limited period. Major intellectual property rights are as follows:

A trademark is a symbol, word, image, letter, or combination of all. The manufacturer or the company uses it as a brand to distinguish itself from other major corporations. It serves as a brand identity for an organization. After a while, it represents your products or services and your organization’s reputation. Overall, a brand logo assists in brand marketing and brand management as well. For more information, please refer to What is TRADEMARK? – 1stIP.com

A Patent is an exclusive right that government gives to claim your inventions and to prevent anyone else from using them. More specifically, it is a legal document or a license giving the patent owner special and sole rights to exclude others from making, using or selling an invention for a certain period. For more information, please refer to What is a Patent? – 1stIP.com

Copyright is the exclusive legal right to produce, reproduce, publish or perform an original literary, artistic, dramatic, or musical work. Usually, the creator is the copyright owner. However, an employer—for example, a film studio—may have copyright in works created by employees unless there is an agreement in place stating otherwise. For further info, please refer to What is copyright? – Canadian Intellectual Property Office

YouTube – What is Intellectual Property

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