Intellectual property rights are any and all rights connected to intangible assets that are owned by a person or business and are safeguarded against unauthorised use. Non-physical property, such as the right of ownership over intellectual property, is referred to as an intangible asset. Intellectual property rights include the following examples: Patents, names of domains, industrial style, Information that is secret, Inventions, Moral principles, rights to databases, Works by the author, A service mark, Logos, Trademarks, rights to designs, Trademarks or company names etc.
What Kinds of Intellectual Property Are There?
The four primary categories of intellectual property rights are as follows:
- Patents
Patent law grants one or more inventors exclusive rights and shields creations from unauthorized use. The three different patent categories include:
- Patents for designs: A device or invention’s aesthetics are protected. Emojis, fonts, and other distinctive visual characteristics are all covered by ornamental design patents, such as the Coca-Cola bottle’s shape.
- Patents for plants act as safeguards for novel plant species. Fruit trees without pests are an illustration of a plant patent.
- Protection for a product that is helpful and serves a practical function is provided by utility patents. Examples of IP include software, pharmaceuticals, and auto safety systems.
- Trademarks
The use of logos, sounds, words, colors, or other symbols by a business to distinguish its goods or services is protected by trademark law. The Twitter logo, the McDonald’s golden arches, and the font that Dunkin uses are all instances of trademarks.
- Copyrights
The rights of the original creators of original works of intellectual property are safeguarded by copyright laws. Copyrights, unlike patents, must be observable. For example, ideas cannot be protected by copyright. However, you can obtain a copyright and record an original speech, poetry, or song.
- Trade secrets
Trade secrets are private, valuable, and informational intellectual property that belongs to a business. They could be a formula, recipe, or method utilized to gain an advantage over rivals.
What Are a Few Examples of Intellectual Property Violations?
Infringement, counterfeiting, and misappropriation of trade secrets are the main intellectual property crimes. Intellectual property violations include:
- Designing a logo or name with the intention of duping consumers into believing they are purchasing the original brand.
- Unauthorised video or music recording, as well as copying intellectual property (yes, even on a photocopier, for private use).
- Copying a patent and selling it as your own while doing so.
- Making patented products without a valid license.
