Intellectual Properties And Intellectual Property

894 Words Mar 31st, 2016 4 Pages
What is intellectual property? What do you think of when you hear intellectual property? Can an idea or invention that exist in your mind be considered property? Yes, it can. Intellectual property is an invention or an idea that gives a person the exclusive rights to a product or a process. There are many types of intellectual properties like inventions, discoveries, artwork, and writings. Intellectual property can be stolen; someone can misuse it without permission. Violation of intellectual property rights, also called infringements, can result in a lawsuit or a fine, depending on the type of intellectual property involved. Intellectual property is protected by copyright laws, patents and trademarks. There are steps that can be taken to protect one’s property. Intellectual property’s value is not based on physical properties, instead, intellectual property is valuable because it holds ownership and exclusive rights to use, sell, and promote a creation or idea. The history of intellectual property dates back to 500 B.C. when a chef in the Greek colony of Sybaris were granted monopolies for creating culinary delights. There are three basic areas of intellectual property, patents, trademarks, and copyrights.
One form of intellectual property is patents. A patent gives an inventor the rights to his or her invention. It prevents others from using the product without permission. From a legal stand point, a patent excludes others from selling, using or profiting from a product…
Open Document