Intellectual property (IP) law protects intangible creations of the human mind. It grants exclusive rights to creators and inventors for a certain period. This includes inventions, literary and artistic works, designs, and symbols, names, and images used in commerce.
Types of Intellectual Property
- Copyright: Protects original works of authorship.
- Trademark: Protects distinctive signs, symbols, and brand names.
- Patent: Grants exclusive rights to inventions.
- Trade Secret: Protects confidential business information.
- Industrial Design: Protects the ornamental aspects of a product.
Key Concepts
- Infringement
- Fair Use
- Licensing
- Trademark Dilution
Importance of Intellectual Property Law
IP law is crucial for:
- Encouraging innovation
- Promoting economic growth
- Protecting consumer interests
- Facilitating international trade