Intellectual Property ( Ip ) Essay - 919 Words

Intellectual Property (IP) can be broadly described as using human intellect to create something new or original, and it is collectively comprised of four categories: Trade secrets, trademarks, copyrights, and patents. Intellectual property is a valuable asset that must be protected and strategically managed. To fully foster innovation, intellectual property protection is crucial. If protection is lacking, than businesses and individual would not fully benefit from their inventions and could possibly refrain from research and development. Intellectual property drives economic growth and competitiveness. â€Å"The direct and indirect economic impacts of innovation are overwhelming, accounting for more than 40% of U.S. economic growth and employment† (GIPC, 2015, para. 3). Intellectual property contributes tremendously to our national and state economies. IP accounts for 74% of all US exports, which amounts to nearly $1 trillion. It is also important for consumers. Solid IP ri ghts assist consumers in making choices about the safety, effectiveness and reliability in their purchases. Many industries count on sufficient enforcement of their IP, by means of trade secrets, trademarks, copyrights, and patents. According to the USPTO (2015) â€Å"In the United States patents are available to any person who invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof† (para.6). There are three types of patentsShow MoreRelatedIntellectual Property And Ip For Short816 Words   |  4 PagesIP Write Up Name: Alexander Tuma Intellectual property or IP for short refers to the creations of the mind. For example inventions, artistic work, designs, logos and more. (Wipo.int) IP is also protected by the law. For example it protects the users work by putting copyrights, trademarks and patents on his or hers work. This grants the users to get recognition or money from they want they made. (Wipo.int) Copyright: A copyright is a legal term that is used to define the rights that creatorsRead MoreIntellectual Property ( Ip ) Is Everywhere1550 Words   |  7 PagesIntellectual Property (IP) is everywhere. IP is inventions. IP is literary and artistic works. IP is designs or symbols. IP is names and images used in commerce. Almost everything is IP. These things can be protected by patent, copyright, service mark, or trademark. These topics are very complicated; the consolidated version of US patent laws and rules is over 200 pages long. While there are many good things about IP protection, there are also many unnecessary problems with it that should be changedRead MoreIntellectual Properties And How Can You Protect It?1004 Words   |  5 Pagesis Intellectual Properties and How Can You Protect It? What is Intellectual Property? Intellectual Property or IP is a representation of creations of the mind, or something that can be legally owned, Intellectual Property allows protection through patents, trademarks, copyright, designs, circuit layouts and plant breeder’s rights. Almost any business can have some form of intellectual property that they need to protect. What are your rights and how can you protect your intellectual property? ExploreRead MoreQuestions On Intellectual Property Rights1475 Words   |  6 PagesDebate Paper: Intellectual Property Rights The world that exists today was built on two things: innovation and the pursuit of one’s self interest. Our founding founders believed intellectual property to be a way to encourage innovation. Intellectual property (IP) is what ties these two building blocks together. IP is a property right that is granted by some form of government. The government strictly enforces individual property rights, which some believe tends to attract more investment, grows fasterRead MoreProtection of Intellectual Property Essay1030 Words   |  5 PagesProtection of Intellectual Property Introduction There is a lot of controversy about intellectual property and its application to software. There are many difficult, fundamental questions that arise, such as exactly what aspects of a piece of software should be protected under copyright or patent. [5] Despite the fact that applying existing laws to software is not very straight-forward, some sort of legal protection for intellectual property is necessary, as it provides a significant amount ofRead MoreThe Fair Use Doctrine?1137 Words   |  5 Pagesgave works to HathiTrust for digital conversion, tension from the owners of the work began to rise. The Authors Guild, an organization that has been supporting writers and their rights since 1912, filed a case against HathiTrust to protect intellectual property. Google formed HathiTrust, an organization that the libraries loaned books to for the purpose of digital scanning and creating metadata files (Ford, 2011). Converting books to a digital format allows the libraries to circulate digital copiesRead MoreThe Protection Of Copyright : An Indispensable Part Of The Domestic And International Protection Essay974 Words   |  4 PagesPosition Paper As one of the three most important aspects of intellectual property, copyright is an indispensable part of the domestic and international protection. As one of the earliest countries to be aware of the importance of the protection of intellectual property, the United States paid great attention to the protection of copyright. All the treaties and legislation are aiming at reaching the balance between the creators’ interests and the competitors’ rights. 1.Domestic protection 1.1. ItRead MoreThe Purpose Of Copyright Laws1130 Words   |  5 Pageslivelihoods depend upon the recognition of rights† (p. 1, par. 1) for their intellectual properties. In the contemporary business world, most companies that sell products of some kind depend on other firms for the design, production, and distribution of the product to make it available for selling. Such sales are often either wholesale to retailers or retail to consumers. Violations of the copyrights of intellectual property (IP), destroys the chain of commerce reflected in these different industries;Read MoreThe Importance Of IP-Protection In China752 Words   |  4 Pageslongstanding intellectual property rights (IPR) enforcement problems in China. About 86-90% of all IP protected goods sold in China have been illegally copied. As a result, U.S. industries lose billions of dollars in revenue and, consequently, thousands of jobs per year. Local Chinese businesses currently have a vested interest in the co unterfeiting industry, so China is unlikely to support IP-protection until it has economic incentives to do so. Because China is a net importer of IP-protected goodsRead MoreThe And The Industrial Revolutions1305 Words   |  6 PagesWhat is intellectual property? Intellectual property or IP for short is creations of the mind, such as; inventions, literary and artistic works, designs and symbols, names and images used in commerce. Among these IP also includes trade secrets, patents, copyrights, and trademarks. IP and its protection are detrimental to the success of the economy. IPs are the innovations that drive the market forward and they are what created eras like the renaissance and the industrial revolutions. But nowadays