Tangible assets like a house, jewellery, currency, investments, car etc are not the only kinds of property that one can own and claim protection under the law. There are other types of property too which are provided for by law and protected within the legal framework and these are called intellectual property, which can be protected against infringement. Copyrights, trademarks and patents are the three primary categories of intellectual property.
When an author has created an original composition, he or she owns the copyright over this piece and is granted ownership for them. Copyright protects all forms of artistic creations including music, films, videos, paintings etc in addition to original writings. The copyright accords the sole right of ownership over the piece in question besides rights to get monetary advantages arising from the work.
On the other hand, trademarks accord the person who has registered it, the safety over certain symbols, words or marks which point to the creator or origin of products to prevent replication and thus infringement. They safeguard the trademark holders from being financially exploited by unscrupulous elements.
The third kind of intellectual property right is the patent, which is granted to inventors to safeguard their inventions and creations. A patent is valid for a specified span and allows the holder exclusive right to use and commercially exploit his or her invention.
There are some other intellectual property rights too which are less often registered and used. Knowledge carried forward from generation to generation in a particular sect; exclusive and secret components or recipes which go into creating popular products like Coca Cola; and location based descriptions, which refer to certain products like Champagne, are some examples of this kind of intellectual property.
These three types of intellectual property are quite different from each other for the most part but also have certain similarities. All three are recognized by law in a manner that enables the holders of the property to take legal action against the violator and get reparation for infringement.
Discover more about Trademark Registration Singapore and discover how does an Intellectual Property protection increase the net worth of your business very fast.
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