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Intellectual property ip is an intangible creation of the human mind usually expressed or translated into a tangible form that is assigned certain rights of property.
Definition of ip law. Unlike tangible assets to your business such as computers or your office intellectual property is a collection of ideas and concepts. And symbols names and images used in commerce. The law of intellectual property typically encompasses the areas of copyright patents and trademark law. It is intended largely to encourage the development of art science and information by granting certain property rights to all artists which include inventors in the arts and the sciences.
Intellectual property laws such as trademark laws forbid the sale of infringing goods like these mcdnoald s sic and nkie sic sandals. Australian ip law is designed to encourage innovation and protect businesses that develop original ip in order to have a competitive advantage. Ip law synonyms ip law pronunciation ip law translation english dictionary definition of ip law. Intellectual property ip is a category of property that includes intangible creations of the human intellect.
Ip is protected in law by for example patents copyright and trademarks which enable people to earn recognition or financial benefit from what they invent or create. The ownership of ideas. Australian intellectual property laws intellectual property ip and other intangible assets that relate to doing business include patents trade marks designs and secret processes and formulae. The law of intellectual property is commonly understood as providing an incentive to authors and inventors to produce works for the benefit of the public by regulating the public s use of such works in order to ensure that authors and inventors are compensated for their efforts.
The law of intellectual property typically encompasses the areas of copyright patents and trademark law. It is intended largely to encourage the development of art science and information by granting certain property rights to all artists which include inventors in the arts and the sciences.
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