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.