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Questions and Answers
What is the purpose of the IP system?
What is the purpose of the IP system?
- To foster an environment of competition
- To protect the interests of innovators
- To promote creativity and innovation (correct)
- To provide financial benefits to inventors
Which of the following is NOT considered intellectual property?
Which of the following is NOT considered intellectual property?
- Designs
- Inventions
- Literary works
- Physical assets (correct)
What does it mean for intellectual property to be legally protected?
What does it mean for intellectual property to be legally protected?
- It can be freely used by anyone
- It is protected from unauthorized use (correct)
- It is owned by the government
- It can only be used by the creator
What does the term 'intellectual property' encompass?
What does the term 'intellectual property' encompass?
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Which of the following is an example of a trademark?
Which of the following is an example of a trademark?
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Study Notes
Intellectual Property (IP) System
- The IP system aims to promote innovation and creativity by granting exclusive rights to creators, enabling them to profit from their work.
Exclusions from Intellectual Property
- Mere ideas and discoveries are NOT considered intellectual property.
Legal Protection of Intellectual Property
- Legal protection means that creators have exclusive rights to their work, allowing them to prevent others from using, selling, or distributing their creation without permission.
Definition of Intellectual Property
- Intellectual property encompasses creations of the mind, such as inventions, literary and artistic works, and symbols, names, and logos used in commerce.
Examples of Trademarks
- The Nike "Swoosh" logo is an example of a trademark, which is a distinctive sign or symbol identifying a product, service, or brand.
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