Podcast
Questions and Answers
Which of the following is NOT considered an intangible asset?
Which of the following is NOT considered an intangible asset?
- Real estate (correct)
- Innovations of the employers
- Technology of information and databases
- Client relationship
According to Article 721, which of the following individuals has ownership rights over their creations?
According to Article 721, which of the following individuals has ownership rights over their creations?
- An author for literary works (correct)
- A shoe designer for footwear
- A seller for wholesale items
- A manufacturer for produced goods
What is the primary significance of a well-functioning intellectual and industrial property system?
What is the primary significance of a well-functioning intellectual and industrial property system?
- Facilitates job outsourcing
- Attracts foreign investments and fosters technological transfer (correct)
- Enhances equipment inventories
- Supports the production of tangible assets
Which of the following is NOT a goal of understanding intellectual property?
Which of the following is NOT a goal of understanding intellectual property?
What role does intellectual property play in market access for products?
What role does intellectual property play in market access for products?
Which of the following domains is explicitly mentioned as benefiting from intellectual property?
Which of the following domains is explicitly mentioned as benefiting from intellectual property?
Ownership of a musical composition is attributed to which of the following persons?
Ownership of a musical composition is attributed to which of the following persons?
Which type of asset includes capabilities and abilities of employers?
Which type of asset includes capabilities and abilities of employers?
What legal right is associated with new inventions?
What legal right is associated with new inventions?
How does copyright protection come into existence?
How does copyright protection come into existence?
What signifies the external appearance of a product or service?
What signifies the external appearance of a product or service?
Which intellectual property right requires reasonable efforts to keep an item secret?
Which intellectual property right requires reasonable efforts to keep an item secret?
What is the primary purpose of trademarks?
What is the primary purpose of trademarks?
Which of the following does NOT belong to the category of copyright?
Which of the following does NOT belong to the category of copyright?
What is a distinctive feature of an industrial design?
What is a distinctive feature of an industrial design?
Which type of intellectual property involves the protection of valuable, non-public information?
Which type of intellectual property involves the protection of valuable, non-public information?
What is the primary purpose of the intellectual property code in the Philippines?
What is the primary purpose of the intellectual property code in the Philippines?
Which of the following is NOT mentioned as a benefit of the Intellectual Property Code?
Which of the following is NOT mentioned as a benefit of the Intellectual Property Code?
Intellectual property can be characterized as what type of property?
Intellectual property can be characterized as what type of property?
Which of the following is a key aspect of intellectual property protection?
Which of the following is a key aspect of intellectual property protection?
How does the Intellectual Property Code contribute to cultural development?
How does the Intellectual Property Code contribute to cultural development?
Which of the following activities is essential for the growth of intellectual property?
Which of the following activities is essential for the growth of intellectual property?
What is the role of the state according to the Intellectual Property Code?
What is the role of the state according to the Intellectual Property Code?
What happens to intellectual property when it is first created?
What happens to intellectual property when it is first created?
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Study Notes
Objectives of Intellectual Property (IP)
- Understand the concept and significance of intellectual property (IP).
- Identify various types of IP relevant to different fields.
- Explore applications of IP within specific industries.
Tangible vs. Intangible Assets
- Tangible assets: Include currencies, buildings, real estate, vehicles, inventories, equipment, and precious metals.
- Intangible assets: Encompass client relationships, operative processes, technology of information systems, employee skills and innovations, intellectual property, and goodwill.
Ownership of Intellectual Property
- According to Article 712 of the Civil Code of the Philippines, ownership is acquired through occupation and intellectual creation.
- Article 721 specifies ownership for various creators:
- Authors of literary, dramatic, historical, or legal works.
- Composers with respect to musical compositions.
- Artists such as painters and sculptors concerning their products.
Intellectual Property Code of the Philippines (RA 8293)
- Establishes an effective system for intellectual and industrial property crucial for domestic development.
- Facilitates technology transfer, attracts foreign investments, and provides access for local products.
- Aims to protect and secure exclusive rights of creators for their intellectual properties for designated periods.
Goals of RA 8293
- Promotes the diffusion of knowledge for national progress and the common good.
- Streamlines processes for registering patents, trademarks, and copyrights.
- Enhances enforcement of intellectual property rights.
Economic Importance of Intellectual Property
- Recognized as intangible property with economic rights for creators.
- Enables commercial exploitation, capital investment, and technology transfer.
- Plays a vital role in cultural development.
Protection and Benefits of Intellectual Property
- Promotes capital expenditure for developing new products.
- Supports research and development efforts.
- Involves marketing and advertising strategies to avoid piracy and maintain customer loyalty.
- Drives profitability by protecting creators' rights.
Characteristics of Intellectual Property
- Represents creations of the human mind, encompassing ideas, inventions, technologies, artworks, music, and literature.
- Initially intangible but can manifest in tangible forms as valuable products.
Types of Intellectual Property Under RA 8293
- Industrial Property: Includes inventions, utility models, industrial designs, and trademarks.
- Copyright: Covers various forms of creative works, such as literary, musical, and artistic compositions, including software.
Overview of Intellectual Property Rights
- Patents: Protect new inventions through application and examination processes.
- Copyright: Automatically exists for original creative works.
- Trademarks: Distinctively identify products or services, requiring registration.
- Registered Designs: Protect the external appearance of products through registration.
- Trade Secrets: Guard valuable, confidential information with reasonable efforts to keep it secret.
Everyday Intellectual Property
- Intellectual property impacts daily life, often reflected in various creative and commercially exploited works.
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