What is Intellectual Property?

Intellectual Property (IP) includes different types of invention, design, brand name or original creation. Just as there are laws to protect physical property against (e.g.) theft, so there are a series of laws designed to protect Intellectual Property.

The legal rights given are the right to prevent unauthorised use of the invention, design, brand name or creation for the period of protection. This may be an absolute monopoly right or simply a right to prevent reproduction.

The legal rights in Intellectual Property can be transferred between parties, licensed to other parties and can even be mortgaged or used as security.

Rights protecting Intellectual Property can come into existence one of two ways: some exist only after an application has been made and/or registration has been obtained, whilst other rights come into existence automatically upon creation of an original design or other work or upon the creation of a reputation in a brand name.

With most forms of Intellectual Property, the protection afforded expires after a finite term. However, this is not true for all forms; some protection can subsist ad infinitum.

The various forms of Intellectual Property are briefly:

Patents:-
A 20 year absolute monopoly in new and inventive technical innovations.

Supplementary Protection Certificate:-
Up to 5 years extension to the absolute monopoly given by a patent where the invention consists of a medicinal product for which approval by the relevant authority has yet to be given.

Trademarks:-
A 10 year (although renewable every 10 years ad infinitum) absolute monopoly in a sign such as a brand name which is indicative of the origin of goods.

Designs:-
A 25 year absolute monopoly in a new design applied to a manufactured article.

Unregistered Design Right:-
A right to prevent reproduction of an original design which arises automatically and which lasts for a maximum of 15 years.

Semiconductor Topography Rights:-
Unregistered Design Right in a semiconductor topography.

Copyright:-
A right to prevent reproduction of an original literary, artistic, musical or dramatic work for 70 years beyond the death of the author.

Confidentiality and Trade Secrets:-
A right to prevent misuse of confidential or secret information.

Plant variety rights:-
A registered monopoly right in a new horticultural genus or species.