Intellectual Property Rights PDF

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Intellectual Property Rights
PDF Name Intellectual Property Rights PDF
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Intellectual Property Rights

Hey guys today we are going to upload Intellectual Property Rights PDF for all of you. Intellectual property has increasingly assumed a vital role with the rapid pace of technological, scientific and medical innovation that we are witnessing today. Moreover, changes in the global economic environment have influenced the development of business models.

Where intellectual property is a central element in establishing value and potential growth. Several new legislation for the protection of intellectual property rights (IPRs) has been passed to meet the international obligations under the WTO Agreement in India on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

Intellectual property has therefore grown into one of the world’s biggest and fastest-growing fields of law thereby necessitating the demand for IP professionals well versed in this area to deal with (IPRs) across the national and international borders. The study material has been prepared to provide the students with a wide perspective and depth of knowledge of the intellectual property.

Intellectual Property Rights PDF

Intellectual property rights are legal rights that provide creators protection for original works, inventions, or the appearance of products, artistic works, scientific developments, and so on. Basically speaking, intellectual property rights are a common type of legal IP protection for those who invent.

These rights have contributed enormously to the world, in particular economically. Many companies in various industries rely on the enforcement of their patents, trademarks, and copyrights, while consumers can also be assured of quality when purchasing IP-backed products.

Now, let’s better understand the benefits IP delivers and how we should value the different protection types of intellectual property rights.

The Importance of Intellectual Property Rights

The purpose of intellectual property rights is to encourage new creations, including technology, artwork, and inventions, that might increase economic growth. Intellectual property rights increase the incentives for individuals to continue to produce things that further create job opportunities and new technologies while enabling our world to improve and evolve even faster.

According to The U.S. Chamber of Commerce’s Global Innovation Policy Center:

  • Intellectual Property Creates and Supports High-Paying Jobs

IP-intensive industries employ over 45 million Americans and hundreds of millions of other people worldwide. The average worker in an IP industry earns about 46% more than their counterpart in a non-IP industry.

  • Intellectual Property Drives Economic Growth and Competitiveness

America’s IP industry is worth approximately US$ 6.6 trillion, which is more than the nominal GDP of any other country in the world. IP-intensive industries account for over 1/3 (or 38.2%) of total U.S. GDP. 52% of all U.S. merchandise exports are related to IP, amounting to nearly US$ 842 billion.

Types of Intellectual Property Rights PDF

Intellectual property can consist of many types of intangibles, and some of the most common are listed below:

Patents

A patent is a property right for an investor that’s typically granted by a government agency, such as the U.S. Patent and Trademark Office. The patent allows the inventor exclusive rights to the invention, which could be a design, process, improvement, or physical invention such as the machine.

Technology and software companies often have patents for their designs. For example, the patent for the personal computer was filed in 1980 by Steve Jobs and three other colleagues at Apple Inc.

The three types of patents consist of:

  • Design patents: Protection for the aesthetics of a device or invention. Ornamental design patents include a product’s shape (Coca-Cola bottle), emojis, fonts, or any other distinct visual traits.
  • Plant patents: Safeguards for new varieties of plants. An example of a plant patent is pest-free versions of fruit trees. But inventors may also want a design patient if the tree has unique visual properties.
  • Utility patents: Protection for a product that serves a practical purpose and is useful. IP examples include vehicle safety systems, software, and pharmaceuticals. This was the first and is still the largest, area of patent law.

Copyrights

Copyrights provide authors and creators of original material the exclusive right to use, copy, or duplicate their material. Authors of books have their works copyrighted as do musical artists. Copyright also states that the original creators can grant anyone authorization through a licensing agreement to use the work.

Trademarks

A trademark is a symbol, phrase, or insignia that is recognizable and represents a product that legally separates it from other products. A trademark is exclusively assigned to a company, meaning the company owns the trademark so that no others may use or copy it.

A trademark is often associated with a company’s brand. For example, the logo and brand name of “Coca-Cola,” is owned by the Coca-Cola Company (KO).

Franchises

A franchise is a license that a company, individual, or party–called the franchisee–purchases allowing them to use a company’s–the franchisor–name, trademark, proprietary knowledge, and processes. The franchisee is typically a small business owner or entrepreneur who operates the store or franchise. The license allows the franchisee to sell a product or provide a service under the company’s name.

In return, the franchisor is paid a start-up fee and ongoing licensing fees by the franchisee. Examples of companies that use the franchise business model include United Parcel Service (NYSE: UPS) and McDonald’s Corporation (NYSE: MCD).

Trade Secrets

A trade secret is a company’s process or practice that is not public information, which provides an economic benefit or advantage to the company or holder of the trade secret. Trade secrets must be actively protected by the company and are typically the result of a company’s research and development. Examples of trade secrets could be a design, pattern, recipe, formula, or proprietary process.

Trade secrets are used to create a business model that differentiates the company’s offerings to its customers by providing a competitive advantage. According to 18 USC § 1839(3), assets may be tangible or intangible, and a trade secret can involve information that’s:

  • Business
  • Financial
  • Technical
  • Economic
  • Scientific
  • Engineering

Two well-known examples include the recipe for Coca-Cola and Google’s search algorithm. Although a patent is public, trade secrets remain unavailable to anyone but the owner.

What is the Definition of Intellectual Property Rights?

The definition of intellectual property rights is any and all rights associated with intangible assets owned by a person or company and protected against use without consent. Intangible assets refer to non-physical property, including the right of ownership in intellectual property.

Examples of intellectual property rights include:

  • Patents
  • Domain names
  • Industrial design
  • Confidential information
  • Inventions
  • Moral rights
  • Database rights
  • Works of authorship
  • Service marks
  • Logos
  • Trademarks
  • Design rights
  • Business or trade names
  • Commercial secrets
  • Computer software

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