What is Intellectual Property? Courses, Colleges & Career Scope

Intellectual Property, as the name suggests, is rights related to the conception and conclusion or end-result of any thought of human mind and intelligence.

In simple words, intellectual property rights are mechanism to grant exclusive right of certain creative ideas or business concepts to any individual or business entity.

These days, virtually every second global product is protected under various sub-divisions of the law. e.g., (DVDs under patents laws), software like Windows vista under copyright laws), goodwill of product associated with its logo under trademark laws, appearance and -design of a Rolex watch- by laws relating to designs.)

Such has been the increasingly important role of Intellectual property rights I n today’s rapidly changing business scenario.

Global trade today is ruled by companies and Multinational corporations who give have created and protected their intellectual property. No company embodies this better than Microsoft, which has been built entirely on the strength of its software programs which are protected through copyright.

Protection of intellectual property has become so important that companies today carry out intellectual property audits to identify their intellectual wealth and form special departments to manage them.

Presently, almost every country is taking measures to strengthen its shield against cases related to intellectual property. India also has formulated specific laws on a variety of aspects related to intellectual property.