Intellectual property rights are a bundle of exclusive rights over creations of the mind, both artistic and commercial. The former is covered by copyright laws, which protect creative works, such as books, music, movies, paintings, photographs, and software, and give the copyright holder exclusive right to control reproduction or adaptation of such works for a certain period of time.
Intellectual Property Rights implies to the bundle of exclusionary rights which can be further categorized into the following topics:-
Copyright
Copyright laws protect artistic creations such as books, music, movies, paintings, software and photographs. You do not obtain the rights for ever, usually for 50 to 100 hundred years, after which point your work is said to enter the public domain.
Trademarks
A trademark is a sign, which is used to identify a service or product to consumers as originating from a unique source and to distinguish that product or service from other entities. Typically, a trademark is given to a name, phrase, word, logo, symbol, Image, design, or combination.
Patent
A patent is set of exclusive rights, which are provided by a state to an inventor in exchange for a disclosure of an invention. The patent provides the inventor the right to exclude others from using, making, or selling that invention. The right is for a limited time and usually lasts for 20 years after the filing date.
Industrial Design Rights
Industrial design rights are a set of intellectual property rights, which protect the visual design of objects. The creation of shape, configuration or composition of pattern or color, combination of pattern and color containing aesthetic value constitutes an industrial design. The industrial design rights last for fourteen years.
Trade Secret
A trade secret is a formula, instrument, design, practice, process, pattern or compilation of information which is not normally known or reasonably ascertainable. Additionally, a business should be able to obtain an economic advantage over competitors or customers by keeping this information private.
Intellectual Property Rights Definition
Intellectual property rights are the rights given to persons over the creations of their minds, who usually give the creator an exclusive right over the use of his/her creation for a certain period of time.