The list of distinct types of legal monopolies over creations of mind, both artistic and commercial, and the related fields of law is called Intellectual property (IP). Under intellectual property law, proprietors are granted certain exclusive rights to a variety of intangibles, such as musical, literary, and artistic works; ideas, breakthroughs, and inventions; and words, phrases, symbols, and designs. There are four main types of intellectual property - copyrights, patents, trademarks and trade secrets.
Copyrights give lawful rights to published and unpublished original works. They provide legal safeguards for original creative works like novels, movies, musical scores, and so on. By making use of copyrights, the owner is able to legally guard the expression of an idea for a stipulated period, during which only he or she has the right to reproduce it, allow its adaptation, exhibit it to people, or sell it off. In a majority of countries, a copyright is valid even after the author's demise for 50 years and any unsolicited usage is actionable.
Patents are lawful and certified rights that allow creators to prevent others from producing or promoting their invention. Typically they are applicable to new theories in the realm of science, inventions in the field of technology and also biological discoveries. Most of the nations provide patent protection only for a span of 20 years, following which the invention passes into the public domain and the owner loses his exclusive rights.
Trade secrets are undisclosed information that can be used by the firm to defeat its competitors. Trade secrets can include anything ranging from a new software to the recipe of a particular dish and even information like contacts of most important customers. In most cases, trade secrets are matters relating to in house management of the firm, which do not call for any kind of government interference. Two most commonly used ways of protecting a trade secret are storing it in a bank locker or keeping it confined to a limited number of executives, so that it is not within reach of many people and therefore stays secure.
Trademarks include words, symbols or designs that are used in connection with a particular brand or commodity in order to separate it from products of competitors. Trademarks act as an immediate recall of the manufacturer in the consumer's mind and create a specific brand identity. Usually trademarks hold good for 10 years after which a renewal is often required.
Copyrights give lawful rights to published and unpublished original works. They provide legal safeguards for original creative works like novels, movies, musical scores, and so on. By making use of copyrights, the owner is able to legally guard the expression of an idea for a stipulated period, during which only he or she has the right to reproduce it, allow its adaptation, exhibit it to people, or sell it off. In a majority of countries, a copyright is valid even after the author's demise for 50 years and any unsolicited usage is actionable.
Patents are lawful and certified rights that allow creators to prevent others from producing or promoting their invention. Typically they are applicable to new theories in the realm of science, inventions in the field of technology and also biological discoveries. Most of the nations provide patent protection only for a span of 20 years, following which the invention passes into the public domain and the owner loses his exclusive rights.
Trade secrets are undisclosed information that can be used by the firm to defeat its competitors. Trade secrets can include anything ranging from a new software to the recipe of a particular dish and even information like contacts of most important customers. In most cases, trade secrets are matters relating to in house management of the firm, which do not call for any kind of government interference. Two most commonly used ways of protecting a trade secret are storing it in a bank locker or keeping it confined to a limited number of executives, so that it is not within reach of many people and therefore stays secure.
Trademarks include words, symbols or designs that are used in connection with a particular brand or commodity in order to separate it from products of competitors. Trademarks act as an immediate recall of the manufacturer in the consumer's mind and create a specific brand identity. Usually trademarks hold good for 10 years after which a renewal is often required.
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