Intellectual Property

Intellectual Property

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect.

The main purpose of intellectual property law is to encourage the creation of a wide variety of intellectual goods

To achieve this, the law gives people and businesses property rights to the information and intellectual goods they create, usually for a limited period of time.

.This gives economic incentive for their creation, because it allows people to profit from the information and intellectual goods they create.

These economic incentives are expected to stimulate innovation and contribute to the technological progress of countries, which depends on the extent of protection granted to innovators.

Types od Intellectual Property

PATENTS

COPYRIGHT

TRADE MARKS

SECRET HOW TO KNOW

A PATENT is a form of right granted by the government to an inventor or their successor-in-title, 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.

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". Copyright does not cover ideas and information themselves, only the form or manner in which they are expressed

A trademark is a recognizable sign, design or expression which distinguishes products or services of a particular trader from similar products or services of other traders.

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 and customers. There is no formal government protection granted; each business must take measures to guard its own trade secrets (e.g., Formula of its soft drinks is a trade secret for Coca-Cola.)