07/01/2019
WHAT YOU NEED TO KNOW ABOUT INTELLECTUAL PROPERTY ..DAILY DIGEST 1
WHAT IS INTELLECTUAL PROPERTY?
According to WIPO "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". The idea of intellectual protection was derived from a view point where if people copied our idea it would be detrimental to our business thus IP gives creators protection over their creations of the mind.
Imagine if you've just figured a new way of serving your customers and start using it without protecting the idea then your competitor company B learns about it, modifies and protects through a patent, copyright this means they'll have a higher competitive edge than company A which is yours.
The above example just shows why you should protect your idea amongst other reasons and this article will discuss what intellectual property rights are.
Intellectual Property Rights(IPR) are exclusive legal rights given to an individual or organisation over one's creations, ideas or intellect without worry of them being stolen for a fixed period of time and these rights include trademarks, patents, copyrights and trade secrets.
This was just the start of a general understanding in Intellectual property , and there is plenty more i will talk about in the next articles. I'm sure this basic information will help you protect your interests.
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