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Intellectual Property Laws « Thread Started on Apr 12, 2008, 11:52pm »
Intellectual property confers a bundle of exclusive rights in relation to the particular form or manner in which ideas or information are expressed or manifested, and not in relation to the ideas or concepts themselves. The term "intellectual property" denotes the specific legal rights which authors, inventors and other IP holders may hold and exercise, and not the intellectual work itself.
Intellectual property laws are designed to protect different forms of subject matter, although in some cases there is a degree of overlap.
Copyright may subsist in creative and artistic works (e.g. books, movies, music, paintings, photographs, and software) and give a copyright holder the exclusive right to control reproduction or adaptation of such works for a certain period of time (historically a period of between 10 to 30 years depending on jurisdiction, but more recently the life of the author plus several decades). Throughout the EU and EEA, under the Duration Directive (or the Term Directive), the copyright term for literacy, artistic and other works is life of the creator plus 70 years.
A patent may be granted for a new, useful, and non-obvious invention, and gives the patent holder a right to prevent others from practising the invention without a license from the inventor for a certain period of time (typically 20 years from the filing date of a patent application).
A trademark is a distinctive sign which is used to distinguish the products or services of different businesses.
An industrial design right protects the form of appearance, style or design of an industrial object
A trade secret (which is sometimes either equated with, or a subset of, "confidential information") is secret, non-public information concerning the commercial practices or proprietary knowledge of a business. Public disclosure of trade secrets may sometimes be illegal.
Patents, trademarks, and designs rights are sometimes collectively known as industrial property, as they are typically created and used for industrial or commercial purposes.
Intellectual property rights give creators exclusive rights to their creations, thereby providing an incentive for the author or inventor to develop and share the information rather than keep it secret. The legal protections granted by IP laws are credited with significant contributions toward economic growth.
Economists estimate that two-thirds of the value of large businesses in the U.S. can be traced to intangible assets. Likewise, industries whose reliance on IP protections are estimated to produce 72 percent more value per added employee than non-IP industries.
Additionally, a joint research project of the WIPO and the United Nations University measuring the impact of IP systems on six Asian countries and found that "a positive correlation between the strengthening of the IP system and subsequent economic growth." However, correlation does not necessarily imply causation.
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