Thank you for Subscribing to CIO Applications Weekly Brief
A Look into the Nature of Intellectual Property
Unlike immovable property, intellectual property is widely used in other countries. As a result, IP-related problems are usually addressed according to the countries concerned' national laws.
FREMONT,CA: Intellectual property (IP) is the legal rights afforded to inventors or producers of intellectual goods of moral and economic value. The goals of intellectual property law are to include incentives to build and represent the public interest by fostering economic development. It aims to protect the interests of intellectual property owners so that they can enjoy the benefits of their ingenuity. Some argue that this provides developers with a financial incentive to create IP and increases investment in R&D.
IP has its own distinctive features to distinguish itself from other types of rights. These features include:
- Territorial – Unlike immovable property, intellectual property is widely used in other countries. As a result, IP-related problems are usually addressed according to the countries concerned' national laws.
- The Exclusive Right to Owners – This ensures that individuals other than the owners do not have permission to use the IP.
- Assignable – Since an IP is a type of right, it can be allocated. It can be bought, leased, registered, employed, or attached.
- Independence – In certain cases, intellectual property rights are represented in objects, with various types of IP rights coexisting in the same type of object.
- Subject to Public Policy – Intellectual property rights must be consistent with public policy. Although IP owners pursue adequate remuneration, they must also ensure that customers can use their creations with minimal inconvenience.
- Indivisible – Multiple parties may have an interest in an original development without interfering with the interests of other right holders in the same thing. IP is an inexhaustible resource due to its indivisible existence.
- See Also: Top 10 Artificial Intelligence Companies