Intelluctual property

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//This document will provide a full understanding of the Intellectual Property, and its key factors as it relates to the business worldwide. We will also discuss about the role of Intellectual Property Rights.//

Intellectual property can be defined as a term, which refers to numerous and different creations of mind. Property rights and the different coinciding fields of law are recognized and identified for these creations. These divergent conceptions and procreation of mind include inventions, names, symbols and images, artistic and literary works, which are used in trade and commerce. Intellectual property has several key forms, which include patents, trademarks, copyrights and trade secrets (What is Intellectual Property?).

Broadly, there are two categories in which the intellectual property can be divided, which include Industrial property and the Copyright. Industrial property incorporates trademarks, inventions or patents, geographic proof or evidence of the source and industrial designs. The second category, I.e. Copyright, includes belletristic, scholarly and artistic works. The scholarly or the literary work includes poems, novels, films, etc. The artistic work includes paintings and drawings, photographs and architectural designs, which include sculptures also (What is Intellectual Property?).

It can be said that intellectual property mainly refers to a variety of intangible assets as it includes artistic and literary works, names and symbols, designs, etc. Several legal principles have evolved to govern the intellectual property. Exclusive rights are granted to the owners on the various intellectual properties (Field, 2008). The terminology, intellectual property, started to be used in the nineteenth century and in the late twentieth century. The phrase became widespread and prevalent in conducting the business worldwide. The origination of the term can be traced back to the nineteenth century, when the Swiss Federal Office for Intellectual Property was founded in the year 1883 (MacQueen, Waelde & Laurie , 2007). In the twentieth century, the organization was relocated to ...