What Is Intellectual Property - 1338 Words

What is Intellectual Property? â€Å"Intellectual Property (IP) is a term that describes the application of the mind to develop something new or original. It can exist in various forms such as a new invention, brand, design or artistic creation†. (Ipaustralia, 2014) Therefore, as expressed in the week three lecture, IP signifies the ownership of ones intangible and non-physical goods. This could include ideas, names, designs, symbols, artwork, writings, and other creations. It also refers to digital media, such as audio and video clips that can be accessible and downloaded online. (Funston A, 2014) Protecting and managing the IP assets is critical when establishing a product or service in the market and is often the difference between a successful or failing business. The following list identifies IP and other intangible assets that may be associated with a business: †¢ Patents and trade marks †¢ Domain names †¢ Copyright and industrial design registration †¢ Franchises and licenses †¢ Distribution agreements †¢ Newspaper mastheads/publishing rights †¢ Secret processes and formulas †¢ Information databases, including client lists †¢ Computer systems software †¢ Core technology Reasons for protecting intellectual property Since intellectual property is intangible, it is more difficult to protect than other types of property. Due to its monetary implications, intellectual property is often used as a legal term to safeguard the rights of creators and inventors. It has also becomeShow MoreRelatedWhat Are Piracy And Intellectual Property?1012 Words   |  5 Pagessystems in the world are strongly influenced by the western civilization values. Laws for copyright, piracy, intellectual property somehow find the origins in the socio-economical system of our world. In the following essay, we will try to explore the different characteristics of the worlds which may engender the need for copyright. We will next explain what are piracy and intellectual property vis-à  -vis the notion of copyright. Several characteristics of today’s world and its business made copyrightRead MoreWhat Type Of Intellectual Property Protection?1084 Words   |  5 Pagesprocess of applying for patents, copyrights, and trademarks vary. Patent The first step in applying for a U.S. patent is to determine what type of intellectual property protection is required; for example a patent, copyright, trademark, or trade secret (USPTO Investor Resources, 2015). Additionally, you must determine if your invention is patentable and if so, what kind of patent you need. There are three types of patents utility patents, granted for any new process, manufactured good, machine orRead MoreEthics And Intellectual Property : Personal Property984 Words   |  4 PagesETHICS AND INTELLECTUAL PROPERTY Introduction In this week’s assignment, we will look at the subject of ethics and intellectual property. First, start off by looking at the basics of what intellectual property, and take a closer look at case that has involved these issues. Then we will discuss why it is important to protect intellectual property. Next we will look at how can intellectual property be protected? Then we will discuss if intellectual protections ever go â€Å"too far†? Finally what is theRead MoreEthics and Intellectual Property852 Words   |  3 PagesEthics and Intellectual Property â€Å"Intellectual property refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce† (United States Patent and Trademark Office, 2013). There are many ethical issues that have arisen in the business world today pertaining to intellectual property. Some people may not think that it is important to protect intellectual property however, the United States Patent and Trademark Office (USPTO)Read MoreThe Idea Of Intellectual Property864 Words   |  4 PagesThe idea of intellectual property has many correlations with the concept of the marketplace of idea. According to a common argument, intellectual property rights spark innovation, creating positive economic growth and benefits for all. Because the marketplace comparison is an economic one, there is a tendency to tie intellectual property with the marketplace of ideas. The key argument arises whether ideas- intangible resources, can be protected as property using the same concepts and social processesRead MoreComing Up With The Big Idea920 Words   |  4 Pagesfor the test. Who has the right to intellectual property at this point in time? This is the big dilemma and depending on the ethical view point of you or the company you work for, it could become a sticky situation. During the course of this class my answer to this question has, for the most part, has stayed the same. The issue of who has intellectual property rights in a very delicate topic and it truly depends on the situation at hand. Intellectual property is â€Å"something (such as an idea, inventionRead MoreThe Intellectual Property Rights Of The North American Country856 Words   |  4 PagesIntroduction to the Intellectual Property Rights In a general term, intellectual property is any person’s human intellect, which is often protected by law, in order to safeguard its use from another person. The possession of such kind of property generates limited monopoly in the safeguarded property. Intellectual property can be subdivided into copyrights, patents, trademark and trade secrets (Intellectual Property Rights, 2014). The law protects the Intellectual Property so that the people whoRead MoreProtection of Intellectual Property Essay1030 Words   |  5 PagesProtection of Intellectual Property Introduction There is a lot of controversy about intellectual property and its application to software. There are many difficult, fundamental questions that arise, such as exactly what aspects of a piece of software should be protected under copyright or patent. [5] Despite the fact that applying existing laws to software is not very straight-forward, some sort of legal protection for intellectual property is necessary, as it provides a significant amount ofRead MoreIntellectual Property Rights And Competition Law1304 Words   |  6 PagesAIM Critical analysis on when the use of intellectual property rights turns into abuse of intellectual property rights and further analysis on the trend of European competition authorities towards Intellectual property rights with specific reference to what is reiterated in the Magill cases. Introduction Intellectual property rights and competition law both seem to intervene at different junctures; however they work for attainment of one common goal that is consumer welfare. The reasons for thisRead MoreHe Advantages and Disadvantages of Intellectual Property in the Digital Age.1461 Words   |  6 Pagesand disadvantages of intellectual property in the digital age. Intellectual property is an umbrella term that covers copyright, patents, trademarks, designs, and confidentiality and trade secrets. Each of these terms covers a different type of property that is made up of knowledge. Many of these terms cover physical objects, however it is the idea behind them that counts and needs to be protected. The growth of the Internet has put pressure on traditional intellectual property protections such as