What are IP rights?
IP rights are legal devices which protect the output of intellectual creativity in the industrial, scientific, literary and artistic fields, such as inventions, works of art and literature, and product designs.
In addition, IP rights include marks and logos used in connection with products and/or services, and which distinguish them from similar products and/or services from other sources.
Of the legally recognised categories of IP rights, some require registration including patents, trade marks, designs and plant breeders’ rights. Other IP rights which do not require registration include copyright, trade secrets, confidential information and integrated circuit layouts.
Why is IP and IP protection important?
Patents, registered designs and copyright are the principal means for establishing ownership rights to inventions and other works, and provide a legal foundation for generating tangible benefits to individuals, businesses and the international economy.
Trade marks enable entrepreneurs and businesses to protect the goodwill and reputation they have developed in relation to their products and/or services.
The intangible assets that IP rights represent are often critically important to entities ranging from small to medium enterprises to research institutions, universities and multinational corporations.
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