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PMP LIBRARY ASSIGNMENT Intellectual property rights Intellectual property

rights are the protection given to the creators of the intellectual properties. It
includes trademarks, copyrights, patents, industrial design rights and also for
trade secrets. The intellectual property is something that is created using
creativity of an individual, such as art, books, films, formulas, inventions, songs
and processes, that are distinct and owned or created by a single person or
group.

Many of the rights of ownership common to real and personal property are also
common to intellectual property. Intellectual property can be purchased, sold and
licensed. It can also be protected from theft and infringement by others.
Intellectual property right is a law that protects the knowledge created through
human effort, so that creativity is promoted further.

Authors, musicians and others who use their knowledge and creativity would not
engage in further creative efforts if they are not sure about its protection.
Pharmaceutical companies never invest huge sum of money for research unless
they could assure that their inventions would help them to recover the cost
incurred. This is not only meant for the creators of the intellectual property; the
public could also use the intellectual property rights.

The owner or the creator have the complete right over the property or the
invention. So a chance for monopoly exist. So to protect the public from this, the
law has certain provisions. According to the federal law the patent given for a
useful invention can only last for twenty years.

Types of intellectual property rights: TRADE MARKS It is a symbol, word, or name

used to show the creator or the source of a product or a service. Trademark play
an important role in promoting a product (like Nike), while a service mark helps in
identifying the service provided by an individual or an organization. A trademark
or a service mark differentiate the product and services of one individual from
another.

Along with the trademarks the certain slogans and tag lines are also used to
distinguish between different products. Trademarks also guarantees the quality
of the product and services. Companies pay of money and time to make the
consumers recognize the trademarks. McDonalds, Burger King, SHELL, KODAK
are the examples of most recognized trademarks among the world.

COPYRIGHTS Copyright is a type of protection given to the writers of original

work of authorship, including dramatic, musical, literary and some other works.
Thus songs, plays, jewelry, movies, painting and so on are protected. Computer
softwares are also protected using copyrights. Copyright protection is not only
for literature and music, but marketing materials, cartoons and advertising copy
can also be protected.

Copyright protection exist from the point where the work is created in a fixed
form. The law suggest that the holder of the copyright has to make copies of his
work and also should perform and display the work. PATENTS A patent is grant
that allows its holder to avoid other people from making and selling an invention.

Different types of patents are, utility patents which are the most common patents
that provide protection to the useful inventions (such as typewriters and so on),
design patent is another type of patent which provides protection to new original
and ornamental designs for article (such as jewelry) and the last type is the plant
patents, which covers new and creative plant varieties.

TRADE SECRETS Trade secrets are any valuable information important to the
business, and if the competitor get it they can gain benefit out of it. Any type of
information can be safeguarded as trade secrets, recipes, marketing plans,
financial projections and so on. There is no need that a trade secret to be unique,
anything simple and non-technical can be protected using trade secrets.
Not only just protection to something trade secret law also promotes
development of new methods and process for doing business. OTHER
INTELLECTUAL PROPERTY RIGHTS: Along with the common type of intellectual
property rights like trademarks, copyrights, patents, and trade secrets, a few
others are also there.

Some of these are semiconductor chip protection, plant variety protection, the
right of publicity and rights relating to unfair competition, including passing off,
misappropriation and untrue advertising. Likewise there are some global
associations, offices, and settlements that advance the utilization of scholarly
properties. Universal Trademark Association (INTA), World Intellectual Property
Organization (WIPO), are distinctive associations that advance the protected
innovation rights.

Additionally there are distinctive understandings and settlements that impact

protected innovation. Berne Convention for the Protection of Literary and Artistic
Works, Madrid convention, Paris Convention are some among them. Importance
of intellectual property rights The quickly creating innovation has made the
general population get to be mindful about the utilization of intellectual property
rights. There is expanded odds of taking of a thought so these rights individuals
in securing it.

Nowadays there are truly difficult issues like production of pilfered or unlawful
duplicates of movies, books and melodies, these can make misfortune the
makers. So licensed innovation rights help in keeping these things from
happening.

INTERNET SOURCES:
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