Intellectual Property, By The Way

Protection of intellectual property are investments based on acquired knowledge, thought and effort by one or multiple individuals on behalf of themselves, the business they work for when the property is created, and a financial investment. Each of these – acquired knowledge, thought, physical effort, financial investment – have a value that can be attached as it relates the usefulness or importance of the resulting product. That value will have a level of importance to the individual(s) creating the product and if applicable, the investor providing the funds in support of the creation.

An Introduction to the Law and Economics of Intellectual Property Author(s): Stanley M. Besen and Leo J. Raskind Reviewed work(s): Source: The Journal of Economic Perspectives, Vol. 5, No. 1 (Winter, 1991), pp. 3-27 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/1942699 . Accessed: 24/11/2011 08:39

Intellectual property is a broad term that is used to refer to the rights that the owner of an invention or an artwork enjoys. An example of intellectual property law is the Trade Related Aspect of Intellectual Property Rights (TRIPs), which gives individual rights such as patent, designs, and trademark. Intellectual property is contained in the Article 2(viii) of the convention, which led the establishment of the World Intellectual Property Organization (WIPO). Literary works, inventions, discoveries, trademarks, and industrial designs are among the rights that are provided in WIPO. Intellectual property in Australia has a strong judicial support.

This paper will discuss the protection of intellectual property. It will tell how intellectual property is protected and why it is important to protect. It will also discuss ethical issues that arise in dealing with protecting intellectual property and whether or not protections can go" too far".

Intellectual property is described as a person’s ideas, inventions, or works that become their property. The owner of this property then has rights to the property. These rights protect the products of human intelligence and creativity. These rights have been categorized into three subjects: patents, trademarks, and copyrights. Each of these three categories have their own set of laws and policies. Each policy is set into place for specific reasons to protect the owner’s and their intellectual property from being subjected to intellectual property theft. IP theft is a growing industry of thieves that is becoming a much easier task since the invention of the internet.

Intellectual property (IP) refers to the creation of something original and then is protected via copyrights, patents or trademarks. If the usage of these creations is breached, for example, usage without consent from the original

The World Intellectual Property Organization (n.d.) helps one understand the importance of protecting intellectual property. They have spelled out several reasons of this importance including inventing new works in technology and culture, which allows progress to be made that, can be utilized worldwide. In addition, the legal protection of intellectual property encourages the commitment of additional resources for further modernization. Finally, promoting and protecting intellectual property encourages economic growth. It creates new jobs and industries. Protecting intellectual property also enhances the quality and

Intellectual property represents ideas created by minds of humans that require certain rights for their use. Intellectual property gives companies a competitive advantage and attracts the attention of other business partners and investors (Lee, 2016). With such importance, it is necessary for the law to protect these ideas from being used by unauthorized individuals. To shield from this, trade secrets, patents, and copyrights are used to protect the ownership of intellectual property (Legal Information Institute).

What is intellectual property? Intellectual property or IP for short is creations of the mind, such as; inventions, literary and artistic works, designs and symbols, names and images used in commerce. Among these IP also includes trade secrets, patents, copyrights, and trademarks. IP and its protection are detrimental to the success of the economy. IPs are the innovations that drive the market forward and they are what created eras like the renaissance and the industrial revolutions. But nowadays it is a lot easier to steal one 's idea and pass it on as your own. There lays a major problem that the United State and many countries around the world face. Over $300 billion have been lost due to the theft of IPs from the U.S. per year.

Intellectual property rights are a bundle of exclusive legal rights over creations of the mind, both artistic and commercial. These rights give statutory expression to the moral and economic rights of creators in their creations. Intellectual property rights safeguard creators and other producers of intellectual goods and services by granting them certain time limited rights to control the use made of those productions. These rights also promote creativity and the dissemination and application of its results and encourage fair trading, which also contributes to economic and social development. . With the wave of globalisation emerged a need of uniform intellectual property laws all over the world. To achieve this aim WTO stepped in through

Intellectual property (IP) is the meant to protect the creations of the mind, such as inventions for trademarks (sign, design or expression), patents (mechanics, pharmaceuticals, and chemistry), and copyrights (books) used in commerce. By definition it is an intangible property, the product of human ingenuity, protected by law (Johnson & Lau, 2011). Intellectual property needs to be protected for the consumer and for the industries competitiveness. The government and the federal laws can protect intellectual property. The regulations for intellectual property may be far fetching, but they are there for valid reasons. There needs to be a proper balance between content producers and the public good. Those

There are four types of intellectual property rights and the law recognizes your right to own this intellectual property. Jimmy is able to use trademark, patent, and trade secret for his invention. Jimmy is able to trademark “AreYouThere?”, this is his distinguished slogan for his machine to determine if someone is a zombie and should protect his unique name. Although it is not necessary to apply with the government to obtain the rights to a trademark, it is advantageous to register it. The advantages of registering your trademark are having exclusive national rights to use it for your goods, the ability to not allow importation into the U.S. of goods that bear this mark, and also the right to sue in federal court. The second intellectual property right that Jimmy can utilize is a patent. A utility patent provides protection for his invention. Jimmy will have to file a patent application with the U.S. Patent and Trademark office. A patent is good for 20 years as long as the person or company pays the periodic maintenance fees that are required. The third

Intellectual property is the main elements for economic growth and national competitiveness. President Obama mentioned that the United States of America must support intellectual property rights to be successful in an increasingly competitive international market which help the American people to meet their goals. It clearly shows that supporting of intellectual property by government completely related to economy because it has a direct relationship with innovation which is the main buddy in economy, and its benefits will effect to every single industries. In addition, Intellectual property is not just the final product of workers and companies but also it has positive effects to innovation of products, supplies, and commercial activities (U.S. Patent and Tred mark office 2012).

The intellectual property battle in the United States is first addressed in the supreme law of the land, the U.S. Constitution. The Constitution states that (the copyright clauses inclusion is) “To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries” (U.S. Const. art. I, § 8, cl. 8). This once again points at the fact that while human beings may feel that they have ideas that can better society, they may be reluctant to do so if they are not rewarded for these ideas in some form or fashion. The aforementioned

As recognized by the World Intellectual Property Organization (WIPO, n.d.), in the “Protection of Industrial Property” (p. 4, par. 2) during the Paris Convention of 1883 as well as in the “Protection of Literary and Artistic Works” (p. 4, par. 2) during the Berne Convention of 1886, both acknowledges the valuation developed and emerging societies attribute to intellectual properties. Therefore, the protection of these values is justified with laws.