+ RSSDifferent Types Of Intellectual Property
Property does not just comprise of tangible things like homes, cars, furniture, money, investments etc and such assets are not the only type that can be protected by law. There are other types of property too which are recognized by law and protected within the legal provisions and these are called intellectual property, which can be secured against infringement. The three main types of intellectual property rights are patents, trademarks and copyrights.
Copyright is an intellectual property right that is given by law to an author or any other type of creator for an original composition or creation. This right may be awarded for music, films, paintings and other forms of artistic expressions and not only the literary or printed material. Under copyright law, the owner of the work gets several rights which include financial rights to income generated from the work and acceptance as sole owner of that work.
Trademarks on the other hand are intellectual property that pertains to protection given to certain text, symbols and other marks that differentiate the origin of one item from the other. Trademark protection gives the holder complete protection from unscrupulous use of his own symbol by others to mislead customers.
The third type of intellectual property right, known as patent, safeguards the rights of inventors in their novel and beneficial invention. It gives them sole privilege of usage and sale of their work for a specific period.
Some other, less commonly enforced intellectual property rights are also provided for by the law. To cite some instances of these uncommon intellectual properties, they can be some traditional understanding carried forward by a specific family only; company secrets like recipes behind popular products; and location based symbols or marks to denote a product arising from that location, like Champagne.
While all the three types of intellectual property discussed above are different from each other there are also some commonalities. Any of these are fully admissible under the law and the rightful owner can take legal action to establish his right and claim compensation for any misuse.
