Understanding Different Forms Of Intellectual Property
Property does not only comprise of tangible things like homes, cars, furniture, money, investments etc and such property are not the only type that can be protected by law. There are several other forms of non-material property termed as intellectual property that have been provided for under the law and granted safety against infringement. Copyrights, trademarks and patents are the three main categories of intellectual property.
Copyrights are intellectual property dealing with rights of an author or an artist over his or her original piece of work. This right may be given for songs, films, videos and other forms of artistic expressions and not only the written or printed material. Under copyright law, the owner of the work gets several privileges which include monetary rights to income arising from the work and acknowledgement as sole owner of that work.
Trademarks bestow intellectual property privileges which aim at preventing duplication and exploitation of symbols registered by a person for his own products, and they help a consumer easily identify the origin of a product. They safeguard the trademark owners from being financially exploited by unscrupulous elements.
The third kind of intellectual property right, known as patent, protects the rights of inventors in their innovative and beneficial invention. A patent is valid for a predefined span and gives the holder exclusive right to use and sell his or her idea.
Some other, less often found intellectual property rights are also safeguarded by the law. To give some instances of these uncommon intellectual properties, they can be some traditional knowledge passed on by a specific family only; company secrets like recipes behind successful products; and location based symbols or marks to denote a product which comes from that place, like Champagne.
These three kinds of intellectual property are quite distinct from each other for the most part but also possess certain commonalities. All three are provided for by law in a manner that allows the owners of the property to take legal action against the infringer and get reparation for misuse.
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