Intellectual Property Law
September 28, 2009
Intellectual Property News and Interesting Facts
Intellectual properties are a number of distinct types of legal monopolies over creations of the mind, both artistic and commercial, and the corresponding fields of law.
Under intellectual property law, owners of intellectual properties are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; ideas, discoveries and inventions; and words, phrases, symbols, and designs.
Common types of intellectual property include copyright, trademarks, patents, industrial designs and trade secrets in some jurisdictions. These exclusive rights allow owners of intellectual properties to reap monopoly profits.
These monopoly profits provide a financial incentive for the creation of intellectual property, and may pay associated research and development costs.
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