Intellectual Property Importance

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The Intellectual property contains the mind’s creations. These creations can be inventions; artistic works and literary; and symbols, images, and names utilized in commerce. Intellectual property can be divided into two categories. These categories are Industrial Property contains patents for trademarks, inventions, geographical indications and industrial designs. Copyright involves literary achievements and works (such as poems, novels, and plays), music, films. In addition, other works can be artistic works (such as paintings, drawings, sculptures, and photographs) and architectural strategy. Rights linked to copyright that consist of performing artists in their acts, creators of phonograms in their recordings, and broadcasters in their…show more content…
There are many convincing reasons. Firstly, the growth and happiness of people depend on their capacity to generate and invent new achievements in the fields of technology and culture. Secondly, the legal protection of new inventions stimulates the obligation of additional properties for further creativeness. Thirdly, the support and protection of intellectual property leads to having an obvious growth in the economy, generates new jobs and industries. It also enhances the quality and enjoyment of life. An equitable and efficient intellectual property system might benefit all countries to appreciate intellectual property’s possible as a catalyst for economic improvement, social and cultural well-being. The intellectual property scheme supports strike a balance between the benefits of innovators and the community interest, offering an environment in which invention and creativity might flourish, for the interests of…show more content…
But it is enduring on the right track to the complete work of the government objectives towards full agreement with the global TRIPS agreement. The first IP rules were recognized in 1992 and were updated in 2002. Local practice and laws referring to customs and patents are enhanced with laws delivered by the Cooperation Council for the Arab Conditions of Gulf (GCC). The GCC contains six countries on the Arabian Peninsula. These countries are Bahrain, Oman, Kuwait, Saudi Arabia, Qatar, and UAE. They are moving to have the style of European Union. The government is dedicated to Expand and amend the scope of trademark, landmark, copyright, and patent

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