What is Intellectual Property?

Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.

Types of Intellectual Property

• Copyright:  Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture and films, to computer programs, databases, advertisements, maps and technical drawings.

  • Example: "Sam Smith to pay Tom Petty royalties on 'Stay With Me'"

  • Example of the track overlay:  Sam Smith's "Stay With Me" and Tom Petty's "I Won't Back Down"

• Patent: A patent is an exclusive right granted for an invention. Generally speaking, a patent provides the patent owner with the right to decide how - or whether - the invention can be used by others. In exchange for this right, the patent owner makes technical information about the invention publicly available in the published patent document.

• Trademarks: A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. Trademarks date back to ancient times when craftsmen used to put their signature or "mark" on their products. (Logos, Slogans, etc)

  • Starbarks Trademark Infringement

  • John Deere Trademarks

• Trade Secret:  Broadly speaking, any confidential business information which provides an enterprise a competitive edge may be considered a trade secret.  The subject matter of trade secrets is usually defined in broad terms and includes sales methods, distribution methods, consumer profiles, advertising strategies, lists of suppliers and clients, and manufacturing processes. While a final determination of what information constitutes a trade secret will depend on the circumstances of each individual case, clearly unfair practices in respect of secret information include industrial or commercial espionage, breach of contract and breach of confidence.

  • Trade Secrets: Lessons from the Cardinals-Astros Hacking Scandal
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Information from  http://www.wipo.int/about-ip/en/