The term "intellectual property" (IP) refers to works of literature, art, inventions, designs, and symbols (such as brand names) that are legally protected to grant creators temporary exclusivity so they can profit from their contributions. Trade secrets are private company information, trademarks are brand names, patents are inventions, and copyrights are creative works. By allowing artists to make money off of their creations while simultaneously balancing the interests of the general public, intellectual property protection aims to promote innovation.
The legal rights that inventors and innovators are given for their unique creations, including names, designs, inventions, symbols, and literary and creative works, are known as intellectual property rights, or IPR. For a restricted period of time, these rights grant artists the sole authority over their works, prohibiting unauthorized use, sale, or exploitation. By rewarding originality, promoting additional research and development, and offering a framework for fair competition, IPRs promote innovation and economic prosperity.
Provide protection for novel ideas and advancements in technology.
Preserve recognizable signs, symbols, or logos that serve to identify a business's products or services.
Preserve original works of authorship, including literary,
Safeguard confidential information—like formulas, processes, or designs—that gives a business its competitive advantage.
Focus on the artistic appearance of a product, including its shape, structure, or decorative patterns.
Signify products that come from a particular region and carry qualities or reputation tied to that origin.
Provide breeders with exclusive control over the new plant varieties they create.