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Ntellectual Property Rights: Copyright and Patent - Term Paper Example

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Name: Instructor: Course: Date: Intellectual Property Rights: Copyright and Patent Intellectual property, abbreviated as IP, is a controversial phrase that refers to a number of different terms for which a set of control rights is accepted under a related field of law (Peterson 2)…
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Ntellectual Property Rights: Copyright and Patent
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Download file to see previous pages Ordinary intellectual property (IP) rights comprise of copyrights, patents, trademarks, industrial design rights as well as trade secrets in some jurisdictions. Even though, concepts and laws behind patents and copyright are not new, the phrase intellectual property is fairly recent. The name was initiated in the 19th century. The Statute of Monopolies 1623 plus the England Statute of Anne 1710 were, however, the originators of the patent and copyright law respectively (Nelson 23). IP laws play a vital role in the economic affluence of a nation plus they serve as an inspiring force for creative people to share their brilliance with the society. Like personal and real property rights guard one's ownership significance in tangible objects, such as automobiles and land, IP laws guard one's ownership interests in intangible objects. For instance, IP laws protect the music score for a Broadway play, the idea behind a creation and the name or emblem used to brand an artifact. If societies do not enforce these rights, then it would be hard for them to grow and prosper (Nelson 24). When most individuals think of intellectual property (IP) rights, copyrights and patents come to mind. These are the core set of intellectual property rights, and it rewards as well as protects the creative works of authors, inventors, owners plus vendors of goods and services in the market. Whereas the legal regulations that inspire each of these rights are diverse, they each share a common set of rules (All Law 1). An award of copyright or patent protection needs a delicate balance between the benefits of the author or inventor and the benefits of the society all together. This equilibrium is truly much like the tradeoff needed by zoning laws. Zoning laws work to guard the ownership interest that a land holder has with community’s interest in the limited use of the owner's land for community’s greater interest. Right of ways and public utility easements is an example of this equilibrium. Intellectual property (IP) rights also encourage a competitive market. They do so by supporting disclosure of originality through safeguarding the fruits of that originality for a period of time. Disclosure permits other people to build or improve upon previous innovations so that state of the art products continue to evolve and grow. Without the benefits offered by intellectual property (IP) protection, the market would not function as efficiently (Peterson 6). People should visualize what the globe would be look like if every contender had to constantly "reinvent the wheel" instead of being capable of refining and improving upon the works of other individuals. Intellectual property (IP) rights are, however, regional in nature and furthermore the conditions of their issuing and enforceability are regulated by the rules of each jurisdiction (Nelson 44). A United States patent can be only issued and enforced in line with the regulations of the United States. Also, a copyright can only be issued and enforced in Mexico, in line with the country’s rules and regulations, (Nelson 44). Even though, there is a need consistency and standardization nations have diverse approaches to intellectual property (IP) rights protection (Nelson 45). Differences in the process of acquiring IP rights account for a huge percentage of these diversities, instead of the differences in the substantive rights issued in each nation. The terms "patent" plus "trademark" are regularly used interchangeably (Peterson ...Download file to see next pagesRead More
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