Importance Of Intellectual Property

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Intellectual Property is original property created in someone's mind. It can be a play, a novel, a product invention, a marketing plan, a logo or many other things. But, note that not every idea will be classified as intellectual property. To be intellectual property, the idea must be marketable and valuable in some manner. Though there are many different types, all intellectual property is innovative, developed through a creative process, and intangible. intellectual property is handled in the same way as tangible personal property or real property. It can be owned, sold, leased, or gifted much like all other property. Importance The value of IP assets relative to physical assets has increased because of the importance of technology and creative…show more content…
Trade secrets encompass manufacturing or industrial secrets and commercial secrets. The unauthorized use of such information by persons other than the holder is regarded as an unfair practice and a violation of the trade secret. Depending on the legal system, the protection of trade secrets forms part of the general concept of protection against unfair competition or is based on specific provisions or case law on the protection of confidential information. The subject matter of trade secrets is usually defined in broad terms and includes sales methods, distribution methods, consumer profiles, advertising strategies, lists of suppliers and clients, and manufacturing processes. While a final determination of what information constitutes a trade secret will depend on the circumstances of each individual case. Trade secrets can potentially last forever provided the information actually remains a secret. Once the secret is out, the business value is usually lost and the trade secret protection…show more content…
This is a label attached to digital content. Digital time stamping is useful because it is otherwise simple to modify both the body of a digital document and the dates associated with it that are maintained by the operating system (e.g., the creation date and modification date). A specialized time stamping service may be involved to provide a trusted source for the information contained in the time stamp. 3. Letting people know what use they can make of the content – Consider having a copyright statement on every page of your website that spells out your business’ terms on use of the page. Viewers would at least know what they can do with the page (for example, whether or not, and on what conditions, they are allowed to create links to the site, download and print material from the site), and who to contact to get a copyright clearance in relation to any material on your site. 4. Controlling access and use of your website content - You may use technological protection measures to limit access to the works published on your website only to those visitors who accept certain conditions upon the use of the works and/or have paid for such
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