Intellectual property(IP) refers to the creations of the mind such as art literary works,inventions symbols, names, images, design that are used in commerce that include copyrights, trademarks, patents and related rights.
Intellectual property rights(IPR) are a set of rights over creations of the mind that may be both artistic and commercial value, that having artistic value are covered by copyright laws while the commercial values come under Industrial property.
IPR is a broad term it covers- Patents for inventions, Copyrights for material, Trademarks for a broad identity and Trade secrets.Properties of IPR include - it is an asset that can be sold, licensed and exchanged, IP is intangible in nature and cannot be identified using specific parameters, it is protected throughout the nation.
Intellectual property can be broadly divided into industrial property and copyright and neighboring rights.
INDUSTRIAL PROPERTY includes :
- Inventions
- Plant Breeders Rights
- Trademark(Goods and services)
- Industrial designs
- Geographical Indications
COPYRIGHT AND NEIGHBOURING RIGHTS includes:
- Writing
- Musical work
- Dramatic work
- Audiovisual work
- Sculptures
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