The World of IP
Intellectual Property starts with an idea that is either not known in today’s world, or would improve existing methods of supporting creativity and protected ideas in society. It often emerges from the core of an individual’s creativity and becomes intellectual activity in the industrial, scientific, literary and artistic fields. Intellectual Property consists of intangible assets, such as creative ideas, words, phrases, and pictures that are new to society.
A few examples of intellectual property include the recognizable signs and logos you see as you are walking down the street, referred to as trademarks, the new inventions that appear daily on the market, their licenses known as patents, and the books that are found in bookshops that present new ideas, their protection is referred to as copyright.
Inventions refer to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.
Examples of Intellectual Property:
Swoosh logo of Nike, the tag line “Just Do It,” the famous McDonald’s arches, the DaVinci Code copyright controversy are all examples of protected intellectual property.
Intellectual Property regimes encourage the initial creative act starting from a premise that ideas are as free as air and a common resource for all to use. However, the Intellectual Property law aims at safeguarding creators and other producers of intellectual goods and services in this respect by granting rights to control the use made of these creations.
There are many aspects of Intellectual Property. Their descriptions are as follows: