Intellectual property is the intangible product of the mind’s work. Intellectual property can be found everywhere you look. They can be found in creative works like books, films, records, music, art and software, as well as in everyday objects like automobiles, cell phones, computers, and drugs. The distinctive features that help us choose the products we buy, such as the iPhone, iPad, McDonalds, General Electric, Microsoft, etc.
By implementing a system of intellectual property rights, it is possible not only to ensure that an innovation or creation is attributed to the rightful creator or producer, but also to secure “ownership” of it and benefit commercially as a result. By ensuring that intellectual property is protected, society acknowledges the benefits it contributes. It also provides an incentive for people to invest time, money and resources to foster further innovation.
The intellectual property legal system is designed to benefit society as a whole by striking a balance to ensure that the needs of both the creator/inventor and the consumer are satisfied. Intellectual property rights usually allow the rights-holder to exercise rights over the use of his or her work for a limited period of time.
This intellectual property system contributes to society by enriching public knowledge and culture, maintaining fair competition and encouraging production of a vast range of good and services, sustaining innovation and creativity, underpinning economic growth and employment and promote technological and cultural advances and expression.
Generally, intellectual property is protected by giving the creator or inventor of a work the exclusive rights to commercially exploit his or her creation or invention for a limited period of time. These rights can also be sold, licensed or otherwise disposed of by the rightsholder.
Intellectual property rights bestowed upon a creator or inventor are granted under the laws of each country or region where the person seeks such protection. Various international agreements on intellectual property rights allow intellectual property rights to be registered at the same time in several countries.
Intellectual Property is typically broken down into the following sections
If you have a product or service and you wish to explore what intellectual property rights your may be entitled to, contact our firm at 646-504-7384. One of our attorneys can meet with you to discuss your product or service and to develop a cost effective strategy for maximizing your intellectual property rights.