The Importance Of Intellectual Property Rights!

Whether it is music or a literary piece, whether it is an image or an idea, a new discovery or an invention, if you want to enjoy the benefits of being the sole creator, it is a must that you own the intellectual property rights as a creator. There are situations, where, regardless of whether you have created, invented or discovered something, if someone else uses it or patents it before you, you will not be considered the pioneer. Hence, to preserve your rights and benefits as a creator, these IP rights are used by the commercial or monopoly business entities.

About Intellectual Property Rights:

Intellectual property refers to the creation of a creator. It can be a commercial creator, an artist or any other inventor or researcher, who uses intellectual property to come up with new and new inventions. Be it a new discovery or a new invention, music, literature or even an image, design, an idea or a symbol, every single intellectual property needs to be protected so that any distortion does not occur, when  the property is used for the benefit or the creator. The right or law that prevents this IP from distortion is known as intellectual property rights.

Main Areas Of IP Rights:

There are two main or major areas of IP rights. These include –

  1. Copyright –

The first and the major type of IP rights that are vastly used by many creators is the copyright. When a creator creates artistic works like that of a piece of music, a literary piece or book, other right ups, artistic creations like sculptures and paintings and creates films or computer programs, he or she has to protect its rights through the copyright. Like all other IP rights, this too, however, has a limitation and that is the copyright stays valid only up to 50 years after the death of the creator.

  1. Industrial Property –

In this type of intellectual property rights, the signs, designs, trademarks, services, goods and even the technologies that are used for the industrial or commercial purposes, are protected. This way, the researches and developments of new technology are also protected and prevented the distortion of, through these IP rights. This helps in the development activities, financing, and the incentives.

Joint ventures, licensing and the use of the technologies become highly protected with the use of these industrial intellectual property protection rights.

Have Your Intellectual Property Protected Through IP Rights:

Now that you have understood the importance of the intellectual property laws and rights, it is a must that you choose this option to protect your IP. Be it industrial property or your personal creative property, you need to protect it and prevent it from any abuse or distortion in any form. Before that, you need to know about the different kinds of IP right options like that of copyrighting, patenting, etc. Only the right type of IP right will be able to protect the interest of your creations or inventions and make sure that only you or the intended people or entities are benefited with it.

Importance of Intellectual Property Rights You Should Know About

Intellectual property is shortly known as IP. The right of IP is exclusively given to the creator who has invented a certain type of asset related to literary work or any kind of artistic work. The creator or owner of the IP asset can use his asset to develop his own ideas or business or plans; even he can utilize his asset on any of his intangible assets without any legal barrier or headache of competition. IP rights can be included any of these rights, such as copyright, trademarks or patents or other such laws. The court can enforce any of these IP rights via a court case.

IP Creates & Supports High Paying Works

One of the great reasons behind the creation of intellectual property right is to support the innovation that anyone innovates new things, and no one has the right to steal or imitate his or her idea or seeks credit for the innovation. IP or Intellectual property rights generally contribute enormously to a country’s national as well as state economies. Hundreds and thousands of industries around in an economy depend on the adequate enforcement of their IP, patents, trademarks as well as creative copyrights, while the majority of customers use intellectual property or IP to make sure that they are buying safe and assured products. We believe that IP is nothing but a right that is or are worth protecting, both domestically and internationally. This is the reason:

  • Intellectual property industries employ normally more than 56 million people in the US, and it is also less or more in other developed countries in the world.
  • The employee works with intellectual property are hundreds of millions in numbers world over.
  • Jobs or works in IP-intensive companies or industries are expected to grow rapidly over the next few works compared to the national average.
  • Though the average worker in this industry is earning around 30 percent more than the counterpart compared to a nonintellectual property industry.
  • It is roughly estimated that the average salary of the intellectual property industry pays around 50,555 dollars per worker compared to the national average of the 35,755 dollars.

From the above discussion, you may understand how this IP industry is growing day-by-day and how this industry is helping to grow a country’s economies of scale. The roughly estimated figure in the dollar has also indicated the growth of the IP industry in the forthcoming years.

Why Is IP Valuable For A Country?

A right that had by an individual or a group of persons or a company that has exclusive rights to use the plans, ideas or the creation sometimes known as intellectual property rights. IP sometimes discussed with copyrights, patents as well as trademarks, in the same way; somebody believes all are the same kind of, but fundamentally they are dissimilar to each other. It is nothing but intangible assets without worrying the competition as well as highly competitive trade secrets, due to the reason IP is valuable for a country.