Things You should know about IP

WHAT IS IP?

INTRODUCTION:

IP or Intellectual Property defines the products which are created from a human’s intellect. Creation or inventions of songs, industrial designs, machines, arts, logo, brands, etc. The Intellectual Property Rights are not different from property rights. Through Intellectual Property Rights one gets some exclusive rights over their hard work. One can prevent other form using their skills and hard work.

HISTORY OF INTELLECTUAL PROPERTY:

Intellectual Property or IP is not a new concept. It is usually believed that intellectual property rights were first invented in Italy during the Renaissance era. Venice in the year 1474 (approx.) for the first-time initiated patent right to provide some exclusive rights to the owner of the invention. Then again, the history of copyright can be traced back to 1440 A.D. in that time Johannes Gutenberg invented printing press.

Then later in the 19^th century a lot of the other countries thought of applying intellectual property rights to protect people’s hard work from infringement. Then in the year 1883 the Paris Convention for the Protection of Industrial Property and in 1886 the Berne Convention for the Protection of Literary and Artistic Works were signed.

The protection of an IPR helps creator and an inventor to protect their inventions and creations from getting infringed. Intellectual Property Rights provide a monopoly over their work. These rights are also mentioned in the Universal Declaration of Human Rights.

WHY IPR?

1. The protection of intellectual property encourages people to show more of their creation of human mind.
2. New creations and inventions also help in the human and civilization development.
3. And protection of intellectual property helps in the economic system of a country too.
4. Protection of intellectual property helps consumers to trust the product’s quality based on its branding.
5. Again, protection of intellectual property gives creators and innovators a peace of mind.
6. Also, protection of intellectual property provides some exclusive rights.

CONCLUSION:

Intellectual properties are territorial in nature. It plays a vital role in the commercial success of a company or an individual. Intellectual property has become essential in the present days as people are inventing and creating in a large number. Their interest needs to be protected so that they are encouraged more to create new inventions and show their skills. IP protection helps in flourishing of creations and innovations.