Introduction to Intellectual Property Rights

Works created through human intellect, such as inventions, designs, and literary and artistic works.

Fixed property like land and buildings.

They grant exclusive control over their creations, incentivizing further innovation and investment.

Intellectual property laws are specific to each country, requiring separate applications and enforcement.

An intangible creation (like an invention or artwork) that is expressed in a tangible form (like a product or book).

A unique method for preparing food.

These agencies manage the registration process, providing a formal record of intellectual property rights.

Varied laws and enforcement capabilities make it difficult to protect IP rights uniformly across different countries.

To encourage and reward innovation and creativity by granting creators exclusive rights.

WIPO coordinates international efforts to protect intellectual property rights worldwide.

The lack of international IP protection led to widespread copying and counterfeiting, revealing a need for international standards.

Deals with industrial property like patents, marks, and industrial designs, but not artistic creations.

To give creators control over their literary and artistic works.

WIPO is funded through fees for its services and contributions from member states, making it a self-sustaining agency.

These rights are designed to incentivize creators and prevent others from unfairly profiting from their work.

Creative works such as paintings, sculptures, musical compositions, and literary pieces, are protected.

It makes the company more attractive and valuable to potential buyers.

IP assets can be licensed to others, creating income streams through fees and royalties.

Patents give exclusivity, differentiating products and services from competitors offering similar products.

The total value of its intangible assets, can exceed physical assets, as it generates revenue and market position.

Its intellectual property was valued higher, demonstrating the significance of intangible assets in the tech world.

An ideal way to monetize intellectual property involves granting permission to use digital content for a fee.

Rights or assets like brand reputation, customer relationships, and proprietary knowledge are important to consider.

Receiving payments for the protection that can be offered to licensees.

To give developers a limited monopoly, thereby encouraging innovation and balancing public access.

Absolute ownership or complete protection against any use.

Protection requires active monitoring and legal action against infringers.

Using IP to control production, distribution, and sales.

IP laws do not grant global control.

It could be cheaper and easier.

Trade secrets help a business to be unique compared to others.

They must be willing to invest in legal action to stop IP infringements.

Safeguarding unique business ideas.

Customer recognition and brand value help customers recognise a safe store.

IP rights are territorial.

A unified patent application process simplifies seeking patents.

Filing applications country by country.

Elements such as branding aren't the key here.

Establish priority.

Secrets are kept confidential.