Different Kinds Of Intellectual Property
Property does not only comprise of tangible things like houses, cars, furniture, currency, investments etc and such property are not the only type that can be protected by law. There are other types of property too which are provided for by law and safeguarded within the legal provisions and these are called intellectual property, which can be secured against exploitation by others. The three primary types of intellectual property rights are patents, trademarks and copyrights.
Copyrights are intellectual property dealing with rights of an author or an artist over his or her original creation. This right may be awarded for songs, films, videos and other forms of creative expressions and not only the written or printed material. Under copyright law, the owner of the work gets a number of privileges which include monetary rights to income arising from the work and acknowledgement as sole owner of that work.
In contrast, trademarks give the person who has registered it, the safety over certain graphical representations, text or marks which point to the creator or source of products to prevent replication and thus infringement. With this legal shield, trademark is safeguarded from replication by unscrupulous persons who want to misuse established brands.
The third kind of intellectual property right, termed as patent, safeguards the rights of inventors in their innovative and beneficial invention. Patents are valid for a predetermined period within which the holder can enforce his sole right to sale and use of his invention.
There are a few other less frequently found types of intellectual properties that can be held by people. Some examples of other kinds are traditional understanding possessed by natives of a specific area that is unique only to that area; confidential information that include company secrets, for instance, KFC’s recipe; and positional indicators that are a variant of trademarks used for merchandise arising from a specific part of the world, for instance Champagne.
These three kinds of intellectual property are quite different from one another for the most part but also have a few similarities. All three are recognized by law in a manner that allows the holders of the property to take legal action against the infringer and get compensation for infringement.
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