Chapter 4 - IPR - Intellectual Property Rights

Question 1

Define IPR.

Answer 1

“IPR” stands for Intellectual Property Rights. These are legal rights that protect creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. IPR includes patents for inventions, trademarks for branding, copyrights for literary and artistic works, industrial designs, and trade secrets. These rights give creators and inventors the exclusive right to use their creations for a certain period, allowing them to benefit financially and protect their creations from unauthorized use by others.

Question 2

Describe the types of IPR.

Answer 2

1. • Patents: Patents protect inventions and new technologies, giving the inventor the exclusive right to use, make, or sell the invention for a certain period (usually 20 years).

EX: include pharmaceutical formulas, new manufacturing processes, and innovative devices like smartphones.

2. • Copyright: Copyright protects original works of authorship, including literary, artistic, musical, and dramatic works. This includes books, movies, songs, paintings, and computer software. Copyright gives creators the exclusive right to reproduce, distribute, perform, display, and create derivative works based on their original creations.
3. • Trademarks: Trademarks protect brand names, logos, and slogans that distinguish goods or services in the marketplace. Trademark registration gives the owner the exclusive right to use the mark in connection with specific goods or services. Examples of trademarks include the Nike swoosh, the Coca-Cola logo, and the McDonald’s golden arches.
4. • Trade Secrets: Trade secrets protect confidential information that gives a business a competitive advantage. This can include formulas, processes, customer lists, and other proprietary information. Unlike patents, trade secrets do not require registration and can last indefinitely as long as the information remains secret.
5. • Industrial Designs: Industrial designs protect the visual design of objects, such as the shape, configuration, or surface pattern of a product. This can include the design of a car, a smartphone, or a piece of furniture.
6. • Geographical Indications (GI): Geographical indications identify a product as originating from a specific geographic location and possessing qualities, reputation, or characteristics that are due to that origin. Examples include Champagne, Roquefort cheese.