The Importance Of Intellectual Property

Intellectual Property may be defined as; “any product of human intellect that is intangible but has value in the market place.” It is the creative products of the mind which includes; literary and artistic works, inventions, names, images, symbols and designs used in the market place. These works may comprise every production in the literary or artistic field, whatever form and includes books, lectures, music or drawings etc. As a result of their intellectual creative process, they are referred to as Intellectual Property. Intellectual Property is a significant issue for entrepreneurial firms because the protection of rights in that property is necessary from the start of any business enterprise. Numerous concerns while setting up a business …show more content…
It is a legal right of the author or the originator of a literary or artistic work to enjoy the exclusive use of that work for a specific period of time. Copyrights must be in tangible form such as books, computer software programs, magazine articles etc. Copyright works may be registered and can be divided into categories. These categories of materials that can be protected by a copyright are as follows; literary works such as books, poetry, speeches, these are protectable if they possess a high degree of uniqueness. Secondly, musical compositions such as cassette tapes, CDs or MP3s (any musical composition that has words) is protectable. There is also derivative works which are works that are new version of something that is already copyrighted. Computer software; all forms of computer programs are protected. Dramatic works such as plays, comedies, movies etc are protected. Pantomimes and choreographic works; a performance that uses gestures and facial expressions rather than words to communicate, whilst choreography is an arrangement of dance moves. Therefore ballets, mime works and dance movements are also protected. Copyrights also protect pictorial, graphic and sculptural works; works which includes photographs, cartoons, technical drawings, posters etc. Other categories of works which can be protected by copyright laws are motion pictures, audio-visual works, sound recordings and architectural works. Hence, as clearly seen, copyrights provide extensive protection for authors, inventors and originators of any copyrightable works. Facts publicly known and mathematical expressions are not copyrightable. However original compositions of facts such as the telephone yellow pages are