What is intellectual property (IP) and what are the different types of intellectual property?
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the_cyberguy Answered question 05/09/2022
Intellectual property (IP) refers to a creation of the mind that may belong to an individual or an organization. IP can be physical creation or intellectual construct that deserves protection by the law to ensure that the creators receive proper recognition and benefits. And it includes patent, copyright, trademark, and trade Secrets. Furthermore, intellectual properties are assets possessed by an individual or an organization including designs, architectures, processes, procedures, policies, standards and software source code.
The following are some of the common types of intellectual property rights:
- Patent: An intellectual property that protects the rights of inventors in any field.
- Copyright: protects the creators of original works of authorship against unauthorized duplication or counterfeiting of their work.
- Trademark: Trademarks are words, logos, and slogans used to identify a company and its products. And its objective is to avoid confusion or dilemma in the marketplace while protecting the intellectual property rights of people and organizations.
- Trade Secrets: An intellectual property that protects the processes or techniques used by an organization for financial benefits and other advantages.
- Industrial Design: An intellectual property right that protects creations such as products, trademarks, commercial names, and logos.
- Geographic Indicators: products that have a specific geographic information related to an area.
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the_cyberguy Answered question 05/09/2022