What is Intellectual Property?
- Intellectual property refers to the legal rights that creators and owners have over their creations or inventions. These rights give them exclusive control and the ability to benefit from their work.
How Do I Remember It?
- Think of intellectual property as the exclusive ownership of ideas and creations. It’s like having a monopoly over your own invention or work.
Real World Example
- A company that creates a unique logo can protect it with a trademark, preventing others from using a similar logo to avoid confusion.
- An author who writes a book can secure a copyright, giving them the sole right to reproduce and distribute their work.
- Similarly, an inventor can obtain a patent to protect their new invention, granting them exclusive rights to make, use, and sell the invention for a limited time.
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