What is IP?
The term IP that is Intellectual Property refers to the creations of mind or intellect. This could be inventions, literacy, artistic works, symbols or images etc.
What are Intellectual Property Rights?
Intellectual Property Rights are like any other property rights - they allow creator or owner of a patent trademark or copyright to benefit from his or her own work on investment.
What are the types of IP?
Intellectual property is divided into two categories:
1. Industrial Property includes patents for inventions, trademarks, industrial designs and geographical indications.
2. Copyright includes literary works such as novels, poems and plays, films, musical works etc.
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What is Patent?
A patent is an exclusive right granted for an invention, which is a product or a process that provides a new way of doing something, or offers a new technical solution to a problem.
Why are Patents necessary?
Patents provide incentives to individuals by offering them recognition for their creativity and material reward for their marketable inventions. These incentives encourage innovation, which assures that the quality of human life is continuously enhanced.
What is a Trademark?
A trademark is a distinctive sign, which identifies certain goods or services as those produced or provided by a specific person or enterprise.
What does a Trademark do?
A trademark provides protection to the owner of the mark by ensuring the exclusive right to use it to identify goods or services, or to authorize another to use it in return for payment.
What is an Industrial Design?
An Industrial Design is the ornamental or aesthetic aspect of an article. The design may consist of three-dimensional features, such as the shape or surface of an article, or of two-dimensional features, such as patterns, lines or color.
Why protect Industrial Designs?
Industrial Designs are what make an article attractive and appealing; hence, they add to the commercial value of a product and increase its marketability.
What are Copyrights?
Copyright is the body of laws which grants authors, artists and other creators protection for their literary and artistic creations, which are generally referred to as "works".
What rights do Copyright provide?
The creators of works protected by copyright have certain basic rights under copyright law. They hold the exclusive right to use or authorize others to use the work on agreed terms.
What are Trade Secrets?
Broadly Trade Secret is any confidential information that provides an enterprise with an competitive edge.
What qualifies as a Trade Secret?
There are three essential legal requirements for it:
1. The information must be secret.
2. It must have commercial value because it is secret.
3. Holder must have taken reasonable steps to keep it secret.
What is PCT?
The Patent Cooperation Treaty (PCT) is an international patent law treaty, concluded in 1970. It provides a unified procedure for filing patent applications to protect inventions in each of its Contracting States. more
PCT system does not provide for the grant of an international patent, but the system helps to:
1. Simplify the process of filing patent applications. 2. Delay the expenses associated with applying for patent protection in other countries.
3. And allows the inventor more time to assess the commercial viability of his/her invention. more
The content of the page is taken from WIPO, About.com and Wikipedia web site.