Intellectual property has become a vital role with the rapid pace of technological, scientific and medical innovation that we are witnessing nowadays. Moreover, changes in the global economic environment have influenced the development of business models where intellectual property is a central element establishing value and potential growth. Intellectual property has therefore grown into one of the world’s biggest and fastest-growing fields of law thereby necessitating the demand for IP professionals well versed in this area to deal with (IPRs) across the national and international borders. In a broadly way, Intellectual Property can be defined as the legal rights which resulted from intellectual activity in the industrial, scientific, literary and artistic fields.
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To make it easily to understand, intellectual property protect the right of the creator of something of the value to be compensated for what he or she create. It encourages production of valuable, intangible and creative works. At the same time, the notions of copyright and patents are regarded as preventing government granted monopolies and limitations of productive efforts. The importance of intellectual property was first recognized in the Paris Convention for the Protection of Industrial Property in 1883 and the Berne Convention for the Protection of Literary and Artistic works in 1886. Both treaties are administered by the World Intellectual Property Organization (WIPO). Intellectual property is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright. In this assignment, we will discuss the Intellectual property into two branches, which are “Patents” and
To make it easily to understand, intellectual property protect the right of the creator of something of the value to be compensated for what he or she create. It encourages production of valuable, intangible and creative works. At the same time, the notions of copyright and patents are regarded as preventing government granted monopolies and limitations of productive efforts. The importance of intellectual property was first recognized in the Paris Convention for the Protection of Industrial Property in 1883 and the Berne Convention for the Protection of Literary and Artistic works in 1886. Both treaties are administered by the World Intellectual Property Organization (WIPO). Intellectual property is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright. In this assignment, we will discuss the Intellectual property into two branches, which are “Patents” and