While intellectual property law has evolved over centuries, it was not until the 19th century that the term intellectual property began to use, and not until the late 20th century that it became commonplace in the majority of the world. This article is all about intellectual property. A complex topic therefore explained in a simple term under Intellectual Property Definition.
Intellectual Property Definition
Property is corporal property and incorporeal property or tangible property and intangible property. Intellectual Property Definition is a right pervading some material object. Intellectual property (IP) refers to creations of the intellect for which a monopoly is assigned to designated owners by law. The intangible products of a man’s brain are as valuable as his land, building, goods, money, belongings etc. It is quite different from real property or a formal property. In fiction, it is a property. Therefore called as intellectual property. The rights relating to the intellectual property however recognized by law as the subject matter of rights of various intangible or immaterial products is human intelligence, skills and labor. In short intellectual property is basically a creation of intellect or relates to intellect. Intellectual property rights are legal rights which govern the use of creations of the human mind and work.
Intellectual Property Rights are legal rights governing the use of creations of the human mind. The recognition and protection of these rights is of recent origin. Patents, designs and trademarks thus considered as industrial property. As per International Convention for the protection of industrial (Paris Convention) the protection of industrial property has as its object patents, utility models, industrial designs, trademarks, service marks, trade names, indications of source or appellations or origin and the repression of unfair competition when copyrights, Geographical indicators, layout Designs and confidential information however included to industrial property, they all become intellectual property.