intellectual property - general overview
Intellectual property (IP) is the collective term for the "property"
generated by some form of human mental or intellectual activity. As a result, it
is intangible until converted into some physical form. Like physical
property it has intrinsic value and so is the counterpart of physical property
and can be bought, sold, licensed, mortgaged etc. In fact the commercial value of IP can be enormous and may be the major business
asset of many companies.
Most countries have developed an extensive framework of
law to protect intellectual property - referred to as intellectual property
rights (IPR). These rights are generally "exclusive" and give the owner
the right to stop others from doing certain acts. for a period. Examples
of such legal IP rights include patents, trademarks, copyrights, design
registrations, plant
breeder rights, computer chip layout rights, geographical indications etc.
Confidential know-how and trade secrets are also important components of the
total IP of an organisation and may from the major part. They are often
associated with key individuals and in most countries can only be protected by
specific contractual secrecy undertakings.
further reading:
page last revised:12 Jun 2008
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