What are Intellectual Property Rights?
?Creations of the mind, including inventions, literary and artistic pieces, designs, symbols, names, and pictures used in business, are referred to as intellectual property (IP).
??Patents, copyright, and trademarks are a few examples of IP protection under the law that permit people to profit financially or earn notoriety from their inventions. The IP system seeks to provide an environment where creativity and innovation can thrive by striking the correct balance between the interests of innovators and the larger public interest.
?Types of intellectual property:
1.??Copyright
?The legal term "copyright" is used to refer to the ownership rights that authors and artists have over their creative works. The types of works protected by copyright include computer programs, databases, ads, maps, and technical drawings in addition to books, music, paintings, sculptures, and films.
?2.??Patents
An innovation is granted an exclusive privilege known as a patent. Generally speaking, a patent gives the owner the authority to decide if or how others may utilize an innovation. In return for this privilege, the patent holder publishes technical details about the innovation in the patent document for public consumption.
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?3.??Trademarks
? A trademark is a symbol that can be used to separate the products or services of one company from those of other companies. Trademarks have existed since the dawn of time when craftspeople would sign or "mark" their creations.
?4.??Industrial Designs
The decorative or aesthetic component of an object is represented by its industrial design. A design can include two-dimensional elements like patterns, lines, or colors, as well as three-dimensional elements like the shape or surface of an object.
?5.??Trade Secrets
Trade secrets are intellectual property rights on private knowledge that can be licensed or sold. It is considered an unfair activity and a breach of the trade secret protection when others obtain, utilize, or disclose such secret information without authorization in a way that is inconsistent with honest commercial practices.
?6.??Geographical Indications
?Signs used on products with a specific geographical origin and traits, a reputation, or features that are fundamentally related to that location of origin are known as geographical indications and appellations of origin. A geographical indicator often includes the name of the country where the goods were made.
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