What is Intellectual Property?
Intellectual Property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. Intellectual Property rights grant the owner of the work exclusive rights to exploit and benefit from his/her creation.
Why protect Intellectual Property?
- To provide an incentive to the innovators to be able to benefit from the result of their endeavor.
- The legal protection of innovations encourages the commitment of additional resources for further innovation.
- The promotion and protection of intellectual property spurs economic growth, creates jobs and enhances the quality and enjoyment of life
Forms of Intellectual Property
The most common forms of Intellectual Property include: Copyright, trademarks, patents, utility models, industrial designs and geographical indications.