Types Of Intellectual Property
Tangible assets like a house, jewellery, money, investments, vehicles etc are not the only kinds of property that one can own and claim protection under the law. There are many other forms of non-material property termed as intellectual property that have been recognized under the law and granted protection against infringement. The three primary kinds of intellectual property rights are copyrights, trademarks and patents.
Copyrights are intellectual property dealing with rights of an author or an artist over his or her original piece of work. Copyright safeguards all forms of artistic creations including melodies, films, videos, paintings etc besides original literature. The copyright bestows the sole right of ownership over the work in question in addition to rights to get financial benefits resulting from the work.
In contrast, trademarks accord the person who has registered it, the safety over certain symbols, words or marks which point to the creator or origin of products to prevent replication and thus infringement. Trademark protection gives the holder complete protection from unscrupulous use of his own symbol by others to mislead customers.
The third kind of intellectual property right, known as patent, protects the rights of inventors in their innovative and beneficial invention. Patents are valid for a predetermined span within which the holder can enforce his exclusive right to sale and other commercial use of his invention.
There are some other less common kinds of intellectual properties that can be held by people. To give some examples of these uncommon intellectual properties, they can be some special understanding passed on by a specific family only; company secrets like recipes behind successful products; and location based symbols or marks to denote a product arising from that location, like Champagne.
While all the three kinds of intellectual property discussed above are distinct from each other there are also some commonalities. All three are fully admissible under the law and the rightful holder can take legal recourse to enforce his right and claim compensation for any violation.
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