World Intellectual Property Day 2024: World Intellectual Property Day is celebrated on April 26th each year. It was established by the World Intellectual Property Organization (WIPO) in 2000, This day aims to highlight how patents, trademarks, copyrights, and other forms of intellectual property protection contribute to economic development and cultural advancement globally.
What Is Intellectual Property?
Intellectual property is a category of property that includes intangible creations of the human intellect. It refers to the creations of the mind, such as inventions, literary and artistic works, designs, symbols, names and images used in commerce.
According to the WIPO, “IP is protected in law by, for example, patents, copyrights and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.”
World Intellectual Property Day 2024: Date, Theme, History, Significance, Facts & More
What Are The Different Types Of Intellectual Property Law?
Do you understand the difference between an industrial design and a patent, how to use copyright protection for your photos, or why obtaining a protected designation of origin would be beneficial? Discover everything you ever wanted to know about IP rights.
Patent: An exclusive right granted for an invention is called a patent. In general, the right to control how or whether an invention can be used by third parties is granted to the patent owner. In exchange for this right, the patent owner makes technical information about the invention publicly available in the published patent document.
Copyright: The legal term "copyright" refers to the ownership rights that authors and artists have over their creative works. Books, music, paintings, sculptures, films, computer programs, databases, ads, maps, and technical drawings are among the works that fall under the copyright protection umbrella.
Trademarks: A trademark is a symbol that can be used to distinguish one company's products or services from those of other companies. They have existed since ancient times, when goods were marked with the signature or "mark" of the artisans.
Industrial Designs: The decorative or artistic element of an object is its industrial design. A design can include two-dimensional elements like patterns, lines, or colour, or three-dimensional elements like an object's shape or surface.
Geographical Indications: A geographical indication typically consists of the name of the product's place of origin. These signs are used on products with a specific geographical origin and their attributes are primarily attributable to that location of origin including geographic indications and appellations of origin.
Trade Secrets: Trade secrets are intellectual property rights to private data that can be licensed or sold. It is considered an unfair practice and a breach of trade secret protection when someone else obtains, uses, or discloses such confidential information without authorization or in a way that is inconsistent with ethical business practices.
Whereas, the day provides an opportunity to recognize the efforts of inventors, creators, and innovators who enrich society through their intellectual contributions while promoting respect for intellectual property rights and fostering a culture of innovation.
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