Explain Intellectual Property
Intellectual property is an idea or knowledge that is created using an individual or a group of individuals, intellect. |
It can include several things like inventions, discoveries, software programs, songs, movies, written materials like articles and books and anything that is created using creativity.Intellectual property is intangible kind of property that can be equated to physical property. A person who has created something using their own intellect is entitled to patent it, sell it and make profit out of it. However, there are several legalities pertaining to intellectual property.
Copyrights, patents and trademarks define the intellectual property, and also the rights of the user. The exclusive rights can be transferred to a third party through license or mortgage. Intellectual property rights are protected so that authors, inventors and producers are encouraged to preserve their creations and also allow them for public usage.
Physical property is less likely to be stolen or damaged. However, intellectual property can be easily stolen, and someone else can misuse it or make profit out of it. Written material and music are the biggest sufferers when it comes to piracy. Knowledge can be stolen and used by unauthorized people. That is why if a person wants to preserve his or her intellectual property, they should either patent it or copyright it. Whether they intend to use it or not, the person can copyright it to safeguard the intellectual property from piracy. Also, they can define their own terms to distribute or sell their intellectual property. There are laws in the United States which help people to safeguard their own intellectual property.
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