Intellectual Property

What is Intellectual Property?

There are various forms of protection for intellectual property and each is tailored to protect a particular example of intellectual property. Intellectual property can be defined as those products of the mind to which the law grants the author/creator legal protection and hence the enhanced ability to exploit.

It covers a wide range of areas which include literary works, artistic works, films, computer programs, inventions, designs, brand names, the shape of packaging, and etc.. The different rights are not necessarily mutually exclusive. Two or more rights can coexits in a product.

Example of an Intellectual Property

Unlike many forms of property, intellectual property rights protect intangibles and this gives rise to considerable problems cover the control of the property and its protection. In most cases, intellectual property rights eventually expires, leaving the subject matter without an owner and so free to be used or exploited by anyone.

The economic interest of the producer of intellectual property and his competitors and his customers will be affected when the property is exploited in the marketplace and therefore registration is important to protect your intellectual property rights.

The main purpose of the Intellectual Property law is to prevent others from copying or taking advantage of another’s effort by providing remedies if this occurs. This puts the owner of the right in a privileged position whereby he can restrain others from doing certain things while exploiting the right for himself. The rights impinge upon the freedom of action of others.

The owner has a form of property which he can use as he likes, subject to some constraints, and he can take legal action either to deter would be trespassers or to obtain damages against those who have trespassed just as the owner of real property can do.

There are four (4) principal forms of intellectual property and they are; patents, copyright, industrial design and trademarks (Acts) and passing off (Common Law).