Which of the following is an important purpose of intellectual property rights?
Bringing all of these important and diverse points together is the fact that protecting IP is a non-partisan issue that is shared by a broad coalition of interests. These rights are embraced by all sectors of industry—small, medium and large companies alike—and by labor organizations, consumer groups, and other trade associations we bring together. Show
Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture and films, to computer programs, databases, advertisements, maps and technical drawings. (image: clipart.com)A patent is an exclusive right granted for an invention. Generally speaking, a patent provides the patent owner with the right to decide how - or whether - the invention can be used by others. In exchange for this right, the patent owner makes technical information about the invention publicly available in the published patent document. (image: WIPO/Gen a)A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. Trademarks date back to ancient times when artisans used to put their signature or "mark" on their products. Intellectual property rights are legal rights that provide creators protection for original works, inventions, or the appearance of products, artistic works, scientific developments, and so on. Basically speaking, intellectual property rights are a common type of legal IP protection for those who invent. These rights have contributed enormously to the world, in particular economically. Many companies in various industries rely on the enforcement of their patents, trademarks, and copyrights, while consumers can also be assured of quality when purchasing IP-backed products. Now, let’s better understand the benefits IP delivers and how we should value the different protection types of intellectual property rights. The Importance of Intellectual Property RightsThe purpose of intellectual property rights is to encourage new creations, including technology, artwork, and inventions, that might increase economic growth. Intellectual property rights increase the incentives for individuals to continue to produce things that further create job opportunities and new technologies while enabling our world to improve and evolve even faster. According to The U.S. Chamber of Commerce’s Global Innovation Policy Center:
IP-intensive industries employ over 45 million Americans and hundreds of millions of other people worldwide. The average worker in an IP industry earns about 46% more than their counterpart in a non-IP industry.
America’s IP industry is worth approximately US$ 6.6 trillion, which is more than the nominal GDP of any other country in the world. IP-intensive industries account for over 1/3 (or 38.2%) of total U.S. GDP. 52% of all U.S. merchandise exports are related to IP, amounting to nearly US$ 842 billion. Types of Intellectual Property RightsThere are four types of intellectual property rights (IP): patents, trademarks, copyrights, and trade secrets. PatentA patent is used to prevent an invention from being created, sold, or used by another party without permission. Patents are the most common type of intellectual property rights that come to people’s minds when they think of intellectual property rights protection. A patent owner has every right to commercialize his/her/its patent, including buying and selling the patent or granting a license to the invention to any third party under mutually agreed terms. In the U.S., patents can be categorized into three types: utility, design, and plant. Utility In addition, once a utility patent is granted, the patent owner will have the right to exclude anyone from making, using, or selling this invention for 20 years, starting from the date the patent application was filed. An example of utility patent: Method for a driver assistance system of a vehicle US9772626B2 Design Unlike utility patents, design patents have a 15-year term. An example of design patent: Electric bicycle USD845178S1 Plant Plant patents also have a 20-year term. An example of plant patent: Crapemyrtle plant named ‘JM1’ USPP31585P2 TrademarkSource: Color MattersTrademarks are another familiar type of intellectual property rights protection. A trademark is a distinctive sign that allows consumers to identify the particular goods or services a company provides easily. Some examples include McDonald’s golden arch, the Facebook logo, and so on. A trademark can come in the form of text, a phrase, symbol, sound, smell, or color scheme. Unlike patents, a trademark can protect a set or class of products or services instead of just one product or process. CopyrightCopyright does not protect ideas. Instead, it only covers “tangible” forms of creations and original work–for example, art, music, architectural drawings, or even software codes. The copyright owner has the exclusive right to sell, publish, and/or reproduce any literary, musical, dramatic, artistic, or architectural work created by the author. Trade SecretTrade secrets are the secrets of a business. They are proprietary systems, formulas, strategies, or other confidential information and are not meant for unauthorized commercial use by others. This is a critical form of protection that can help businesses gain a competitive advantage.
Although intellectual property rights may seem to provide a minimum amount of protection, when utilized wisely, they can maximize the benefit and value of an invention and enable world-changing technology to be developed, protected, and monetized. Read more about patents in our Inventor’s Guide Series, like this one about what can or can’t be patented, or browse our many other helpful Handbooks and Guides articles! What is the purpose of intellectual property rights?Intellectual property rights (IPR) refers to the legal rights given to the inventor or creator to protect his invention or creation for a certain period of time. [1] These legal rights confer an exclusive right to the inventor/creator or his assignee to fully utilize his invention/creation for a given period of time.
Which of the following is an important purpose of intellectual property rights Coursehero?The main purpose for intellectual property rights is to advance the public good by encouraging invention.
What is the most important intellectual property?Copyright: A copyright is the right to copy. It protects original works of authorship such as books, art, and other creative works. Software generally falls under copyright protection. A copyright gives the rights holder the exclusive right to reproduce, adapt, distribute, perform, and display the works.
What are the 3 intellectual property rights?There are four main types of intellectual property rights, including patents, trademarks, copyrights, and trade secrets.. Patents. ... . Trademarks. ... . Copyrights. ... . Trade Secrets.. |