Advances in Technologies Widen Market Opportunities for Intellectual Property Use
Global Intellectual Property Market: Overview The term “ intellectual property ” refers to creations by individual minds in the form of artistic and literary work, inventions, symbols, images, concepts, names, and designs that are primarily used in commerce. Law defines intellectual property as intangible rights that protect the creations of the human mind and intellect, such as patented inventions and copyrightable works. The aim of this law is to foster a productive environment wherein innovation is prized and creativity is fostered. Intellectual property rights such as trademarks, patents, and copyrights not only enable people to earn financial rewards, but more importantly, promote recognition of their work. When artists and writers come up with a new book, painting, music compositions, or a graphic design, they can protect their work from infringement, misuse or unauthorized use by issuing a copyright. On the other hand, patents are rights granted for in...