When we talk about property, it is not just the tangible things such as houses, structures, land, money etc that are protected by law. Other kinds of property which are non- material in nature also exist. They are termed intellectual property and these are also protected by the law. The three primary types of intellectual property rights are patents, trademarks and copyrights.
Copyright is an intellectual property right that is granted by law to an author or any other kind of creator for a unique composition or creation. It includes not only original writing pieces but also other forms of artistic expression like melodies, videos, films etc. The copyright bestows the sole right of ownership over the work in question besides rights to get monetary benefits resulting from the work.
In contrast, trademarks accord the one who has registered it, the safety over certain graphical representations, words or marks which identify the creator or origin of products to prevent replication and misuse. With this legal provision, trademark is safeguarded from duplication by unscrupulous persons who wish to exploit reputed brands.
The third type of intellectual property right is the patent, which is granted to inventors to protect their inventions and ideas. Patents are valid for a predetermined period within which the owner can enforce his exclusive right to sale and use of his invention.
Some other, less often found intellectual property rights are also provided for by the law. Some examples of other kinds are traditional understanding cultivated by inhabitants of a specific area that is distinctive only to that area; trade secrets that include company secrets, for instance, KFC’s recipe; and geographical pointers that are a variant of trademarks used for products arising from a specific part of the world, for example Champagne.
These three types of intellectual property are quite distinct from each other for the most part but also have certain commonalities. All of these are safeguarded within the provisions of the law and the rightful holders can take refuge in a court of law and claim reparation in case of any infringement.
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