Intellectual Property Right Essay Example | Topics and Well Written Essays - 8000 words

Intellectual Property Right - Essay Example Such protection has lead to the provision of additional funding for the research studies, enhances the efforts on the technological innovations and has also led to the creation of a number of new start ups. Generally the concept of IP covers the legal rights to any person or organization resulting from any intellectual property. The intellectual property deals with the intellectual activities in various fields including industrial, scientific, literary and artistic and the like. The countries across the world have developed legislations covering the protection of IP. These laws have been enacted at the national level for the following main reasons: The first objective is to give a statutory recognition to the creators of the moral and economic rights attached to their creations and also to specifically spell out the accessibility of the public to such rights. The second one is to discharge the responsibility of the government with respect to the promotion of creativity and the dissemination of the application of such creations. This way the government would be able to encourage a fair trading that may result in a balanced economic and social development of the country. In generic terms the IP law aims at protecting the creators and producers of intellectual goods their rights on such goods and services by granting rights to exercise control over the use of those creations for a defined period of time. However it is important to note that such IP rights do not apply to the physical object on which the IP rights may be applied but only on the intellectual creation as such. The IP protection normally extends to (i) Industrial Properties and (ii) Copyright on Intellectual Properties. 2.0 Fields of Intellectual Property Protection The above two areas of IP protection can be further classified into different fields. Inventions, trademarks, industrial designs and geographical indications are covered by Industrial Property. Copyright encompasses literary and artistic works including novels, Poems, films and musical creations. In this context it is important to understand different types of intellectual properties. 2.1 Different Types of Intellectual Properties The different types of industrial properties that need protection are: 1. Patents 2. Industrial Designs and integrated circuits 3. Utility models 4. Copyright and related rights 5. Trademarks 6. Trade secrets 7. Plant breeder's rights 2.1.1 Patents A patent is regarded as an exclusive right that is conferred on any person in respect of an innovation. The patent right has normally a duration of 20 years. A patent right is granted for a product or process which have the capacity of providing in general way of doing something or offering a new technical solution to a problem on hand. "An invention is considered "new" as long as it is not known to the public by any means (written or oral or in any other way), before its filing