Intellectual property (IP) is a property that arises from human intelligence and a product created by humans. The term Intellectual property referring to a brand, invention, design or another kind of invention/creation, which a person or any entity has legal rights over.
General types of Intellectual Properties
It is a right that protects the unique expression of ideas. This safeguards written or published works, including songs, movies, books, web content, and creative creations. The Indian copyrights system is safeguarded under the Indian Copy Rights Act, 1957. Since then, the Act has been altered five times: in 1983, 1984, 1992, 1994, 1999, and 2012.
A patent is a description of an invention for which the inventor claims sole ownership. A registered patent safeguards commercial inventions, such as a fresh good or method. Additionally, newly developed plant species or strains are protected by patents. For all inventions and creations, the term patent normally lasts 20 years from the date of filing.
This safeguards the words, phrases, signs, sounds, logos, tastes, odours, and colour schemes that set your goods and services apart from those of your rivals. Trademarks are frequently seen as assets because they describe or in some other way identify the source of the underlying goods or services that a business offers. The Trademarks Act of 1999 and the Trade Marks Rules of 2002 and 2017 make up India's trade-mark regulations.
This safeguards designs, including computer models or drawings. The Designs Act of 2000 and the Design Rules of 2001 govern the designs. Designs have a maximum ten-year lifespan and are renewable for an additional five years.