Different Types Of Intellectual Property
When we use the term property, it is not just the tangible things such as houses, buildings, land, money etc that are protected by law. There are other kinds of property too which are provided for by law and protected within the legal provisions and these are called intellectual property, which can be protected against infringement. There are three main types of property which come under this classification: patents, trademarks and copyrights.
Copyright is an intellectual property right that is granted by law to an author or any other kind of creator for a unique composition or creation. Copyright protects all forms of artistic expressions including melodies, films, videos, designs etc besides original literature. Under copyright law, the owner of the work gets several rights which include financial rights to income generated from the work and acknowledgement as sole owner of that work.
Trademarks bestow intellectual property privileges which aim at preventing duplication and violation of graphical representations registered by someone for his own products, and they help a customer easily identify the origin of a product. They protect the trademark owners from being economically exploited by counterfeiters.
The third type of intellectual property right is the patent, which is bestowed upon inventors to safeguard their inventions and ideas. Patents are valid for a predetermined period within which the holder can enforce his exclusive right to sale and other commercial use of his invention.
There are some other intellectual property rights too which are rarely registered and used. To cite some examples of these rare intellectual properties, they can be some special knowledge carried forward by a specific family only; business secrets like recipes behind popular products; and location based symbols or representations to refer to a product arising from that location, like Champagne.
These three types of intellectual property are quite distinct from one another for the most part but also have a few similarities. All three are recognized by law in a way that allows the holders of the property to opt for legal recourse against the infringer and get reparation for infringement.
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