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What is Intellectual Property?

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Definition
arising out of human intellectual effort.

Intellectual property (IP) is the name given to property

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The

output

of effort

human often

intellectual

manifests itself as new or original creative knowledge expression or which

adds a desirable quality to a

marketable
service.
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product

or

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Various elements provide intellectual output with attributes that, in one way or another, enhance the quality of life.

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These elements may be called

human endeavor,

ingenuity,
creativity,

inventiveness,
flash of inspiration,

sudden insight, or
new insight into observed facts.
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 These Elements may involve in

solving a technical problem in making something

with more desirable functional qualities, or

result in creating something aesthetically pleasing,

to satisfy a human need or want, be it sensory, social, cultural, mental, spiritual or religious.

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Intellectual property refers to creations of the mind:

Inventions, literary, Artistic works, Designs used in commerce, Symbols, Names, Images.
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Characteristics of IP

A key characteristic of any property is that the owner

of property has the exclusive authority to determine how that property is used.

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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

In both the case the owner has exclusive right to determine how it is used.
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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Can only be used by one or a limited number of people at a given time.

Can be used by various people at the same time (including the owner or creator).

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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Has economic value as long as it exists or as long as there is demand for it.

Has economic value only for the duration specified in the laws and as long as there is demand for it.

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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Possibility of theft and disputes concerning ownership is rather limited.

Greater possibility of theft and disputes concerning ownership.

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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Theft occurs only if the possession of the property changes hands.

Theft occurs if the property is copied, imitated, adapted, translated, used, displayed, etc. without permission of the owner or creator.
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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

In both the cases Expenditure or income from the property may be subject to taxation.
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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Both the properties May be valued and reflected on account books and balance sheets.
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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Both the properties May be securitized and used as collateral for borrowing money
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Physical Property (Tangible or Material)

Intellectual Property (Intangible or Immaterial)

Both the properties May be insured.

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Intellectual Property

Industrial Property
Patents
Trade Mark Industrial Designs Trade Secrets Geographic Indications
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Copyright
Literary Works
Artistic Works

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Patents

A patent is an exclusive right granted for an invention,

which is a product or a process that provides a new and

non-obvious way of doing something, or offers a new and non-obvious technical solution to a problem.

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Trade Mark

A trademark is a sign or any combination of signs, capable of distinguishing a product or service from other products or services on the market.

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Industrial Designs

An industrial design (or simply a design) is the appearance of the whole or part of a product resulting from features of, in particular, the lines, contours, colours, shape, texture and/or materials of the product itself and/or its ornamentation.

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Trade Secrets

Trade secrets or confidential business information are any

information that can be used in the operation of a business

and that is sufficiently valuable and secret to afford economic advantage over others.

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Geographic Indications

A geographical indication is a sign used on goods that

have a specific geographical origin and possess qualities

or reputation that are due to their place of origin.

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Copyright
Copyright describes a bundle of rights given to creators in relation to their literary and artistic works. It protects items such as paintings, drawings, sculptures, photographs, architecture, instruction manuals, software, databases, technical documentation, advertisements, maps, literary works, music, films or songs.
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One Product, Many IP Rights

A single product may be protected by a variety of different IP rights e.g. CD Player.

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CD Player
protected by a series of PATENTS.
The embedded computer programme

The innovative technical features of the product are

controlling

the operations are protected by COPYRIGHTS.

The aesthetic design of CD Player can be protected

by INDUSTRIAL DESIGN.
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CD Player
TRADEMARK.

The Brand used to market it can be protected as a

In addition, the manufacturers probably hold a

numbers of TRADE SECRETS ranging from their

customer list to some of manufacturing processes or to

other confidential information that they would not

want to disclose to the competitors.
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CD Player

In addition, the inventors of CD chose to grant the

authorization (or LICENCE) to a number of companies to use the CD technology in exchange of Payment, thus

acquiring additional income from the LICENCE.

The inventors of innovative products can obtain

exclusivity to use, or prohibit others from using, each

one of this elements through IP Protection.
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