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What is Intellectual Property?

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Definition
Intellectual property (IP) is the name given to property

arising out of human intellectual effort.

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The

output

intellectual

of

human

effort

often

manifests itself as new or

original
creative

knowledge
expression

or
which

adds a desirable quality to a

marketable

product

or

service.
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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)

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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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 2009

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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 2009

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)

Theft occurs only if

the possession of the
property
changes
hands.

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Intellectual Property
(Intangible or Immaterial)

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

Copyright

Patents

Literary Works

Trade Mark

Artistic Works

Industrial Designs
Trade Secrets
Geographic Indications
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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
The innovative technical features of the product are
protected by a series of PATENTS.

The embedded computer programme

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
The Brand used to market it can be protected as a
TRADEMARK.

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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