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PMP LIBRARY ASSIGNMENT

Intellectual property rights

Intellectual property rights are the protection given to the owners of the intellectual properties.
It includes trademarks, copyrights, patents, industrial design rights and also for trade secrets.
The intellectual property is something that is created using creativity of an individual, such as
art, books, films, formulas, inventions, songs and processes, that are distinct and owned or
created by an individual or group.

A hefty portion of the privileges of possession normal to genuine and individual property are
additionally regular to protected innovation. Intellectual property can be purchased, sold and
licensed. It can also be protected from theft and infringement by others.

Intellectual property right is a law that protects the knowledge created through human effort,
so that creativity is promoted further. Authors, musicians and others who use their knowledge
and creativity would not engage in further creative efforts if they are not sure about its
protection. Pharmaceutical companies never invest huge sum of money for research unless
they could assure that their inventions would help them to recover the cost incurred. This is not
only meant for the owners of the intellectual property; the public could also use the intellectual
property rights. The owner or the creator have the complete right over the property or the
invention. So a chance for monopoly exist. So to provide protection for the public from this, the
law has certain provisions. According to the federal law the patent given for a useful invention
can only last for twenty years.
Types of intellectual property rights:

TRADE MARKS

It is a symbol, word, or name used to show the creator or the source of a product or a service.
Trademark play an important role in promoting a product (like Nike), while a service mark helps
in identifying the service provided by an individual or an organization. A trademark or a service
mark differentiate the product and services of one individual from another.

Along with the trademarks the certain slogans and tag lines are also used to distinguish
between different products. Trademarks also guarantees the quality of the product and
services. Companies pay of money and time to make the consumers recognize the trademarks.
McDonalds, Burger King, SHELL, KODAK are the examples of most recognized trademarks
among the world.

COPYRIGHTS

Copyright is a type of protection given to the writers of original work of authorship, including
dramatic, musical, and literary and some other works. Thus songs, plays, jewelry, movies,
painting and so on are protected. Computer softwares are also protected using copyrights.
Copyright protection is not only for literature and music, but marketing materials, cartoons and
advertising copy can also be protected. Copyright protection exist from the point where the
work is created in a fixed form. The law suggest that the holder of the copyright has to make
copies of his work and also should perform and display the work.
PATENTS

A patent is grant that allows its holder to avoid other people from making and selling an
invention. Different types of patents are, utility patents which are the most common patents
that provide protection to the useful inventions (such as typewriters and so on), design patent
is another type of patent which provides protection to new original and ornamental designs for
article (such as jewelry) and the last type is the plant patents, which covers new and creative
plant varieties.

TRADE SECRETS

Trade secrets are any valuable information important to the business, and if the competitor get
it they can gain benefit out of it. Any type of information can be safeguarded as trade secrets,
recipes, marketing plans, financial projections and so on. There is no need that a trade secret to
be unique, anything simple and non-technical can be protected using trade secrets. Not only
just protection to something trade secret law also promotes development of new methods and
process for doing business.

OTHER INTELLECTUAL PROPERTY RIGHTS:

Along with the common type of intellectual property rights like trademarks, copyrights, patents,
and trade secrets, a few others are also there. Some of these are semiconductor chip
protection, plant variety protection, the right of publicity and rights relating to unfair
competition, including passing off, misappropriation and untrue advertising.

Likewise there are some global associations, offices, and settlements that advance the
utilization of scholarly properties. Universal Trademark Association (INTA), World Intellectual
Property Organization (WIPO), are distinctive associations that advance the protected
innovation rights. Additionally there are distinctive understandings and settlements that impact
protected innovation. Berne Convention for the Protection of Literary and Artistic Works,
Madrid convention, Paris Convention are some among them.
Importance of intellectual property rights

The quickly creating innovation has made the general population get to be mindful about the
utilization of intellectual property rights. There is expanded odds of taking of a thought so these
rights individuals in securing it. Nowadays there are truly difficult issues like production of
pilfered or unlawful duplicates of movies, books and melodies, these can make misfortune the
makers. So licensed innovation rights help in keeping these things from happening.

REFERENCES:

BOOK

Bouchox, Deborah E. Intellectual Property Rights. New delhi: DELMAR CENGAGE learning

Pattanaik, Manoj Kumar. Human rights and intellectual property Tripura: Icfai Editorial Team

JOURNALS:

Steensma, H. Kevin; Chari, Mukund; Heidl, Ralph. Strategic Management Journal. Aug2015,
Vol. 36 Issue 8, p1186-1204. 19p..

Papageorgiadis, Nikolaos; Sharma, Abhijit. Economics Letters. Apr2016, Vol. 141, p70-72.
3p.

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