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Intellectual Property
Introduction
Intellectual Property, sometimes abbreviated as IP, refers to creations of the mind such as inventions, literary and artistic works, and symbols, designs, images, and names used in advertising. Intellectual property laws place restrictions on the use of these creations. Intellectual property is an umbrella term covering several concepts:
- Copyright is a form of protection that gives certain exclusive rights, such as the right to publication, distribution, and adaptation, to authors (or their assignees) of literary, dramatic, musical, artistic, and certain other intellectual works,
both published and unpublished.
- A Patent is a grant made by the government that confers upon the creator of an invention (or his assignee) the sole right to make, use, and sell that invention for a specified period of time.
- A Trademark is a distinctive word, name, symbol, or other device used by an individual, business, or other entity to identify its products or services and distinguish them from the products or services of others. When applied to services rather than products, a trademark is properly referred to as a service mark. Trademark law has developed in order to make sure that consumers know what they are buying.
- A Trade Secret is information such as a formula, process, or design that is not generally known or easily ascertained, and which can provide a business with an economic advantage over its competitors.
- The Right of Publicity, sometimes called "personality rights," is the right of an individual to control the commercial use of certain aspects of his or her identity such as a name or image.
