Intellectual Property ( Ip ) Essay

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.

Intellectual property protects legal rights and ownership in the market place through ‘intellectual property rights’. This can include trademarks, copyright, industrial design and patens. These protect brand names, designs and inventions.

An effective system of intellectual property is important in facilitating innovation as well as economic growth within a country and across all its borders (Davidson, Monoti, Wiseman, 2012). The current global economy is concentrating more in the invention of ideas that are original, other than in manufacturing of machines. To enhance and protect these ideas, there ought to be effective intellectual property laws. The government of Australia has prioritized the protection of original ideas from individuals through copyright, patent, and trademarks among other intelligent property laws, which give the inventor a temporary period to enjoy the financial benefits of his or her original idea. The major purposes of intellectual property laws can be contested; therefore, they create areas of interest for

The protection of intellectual property is important because, without it individuals and companies would be less likely to invest their time or money in new ideas. If the company puts a lot of money into research and development of a new surgical procedure for knee replacements, it would not be fair if a different company could just use their idea. There would be no financial gain to encourage companies to spend the time and money developing new procedures.

Everywhere we look there is intellectual property. Intellectual property relates to intangible property such as patents, trademarks, copyrights, and trade secrets” (USLegal, n.d.). With all of the intellectual property readily available, online and in print there is no wonder that we as a society have an issue with safe guarding our own intellectual property. In order to protect our intellectual property there have been many laws and or rules established to govern how we handle and safeguard this type of property. These laws are found at both state and federal levels and are different between states. In a similar fashion, laws vary between countries as well.

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.

Technology enriches our society by making widely available new and useful goods, services, and technical information . Clearly, as a society, we would want to encourage the development of technology so that we can reap the benefits they offer us. Innovators require an incentive to invent and share these technologies with the rest of society. This incentive is achieved by granting intellectual property rights (IPR) to inventors . More specifically, the incentive is usually achieved by granting patents to inventors .

The protection of intellectual property is important and necessary in order to promote progress. The idea is that by trading exclusive rights to the creators of inventions and creative works in exchange that the creative work or invention to be available to the public is mutually beneficial to both the rights holder and society in general. By granting these rights, the creators and owners are able to benefit both socially and financially from that which they created. This provides an incentive for people to pursue the creation of and the investment in intellectual property. There are however limits to the rights of such inventions and creative works.

The second form of intellectual property that must be implemented is Patent. We must protect

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

-One can achieve a high level of innovation in some areas of the modern economy without the intellectual property protection – “excessive, unbalanced or poorly designed IP protections may be counterproductive”

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 (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

Recently, Congress and the courts in the United States have been active in reining in what many have seen as patent system that has run amuck. In the process, they have placed a number of limits on patent holders’ ability to effectively and successfully enforce patents. But as opportunities to enforce intellectual property through patent suits have been narrowed, another IP door appears to be opening.

Firstly, with laws to protect intellectual properties, it prevent and stop other companies from commercially using the protected intellectual properties in the marketplace, allowing the owner company to control the usage of their original