Intellectual Property Coursework Example

Name Instructor Course Date Intellectual Property Human beings are known to be inventors and creators of new ideas, products, and artistic works. The ability of humans to create such works is key to the growth and development of humanity as a whole. However, the ability to develop such ideas, concepts, and artistic works requires, at times, a distinct intellectual capability. The works resulting from intellectual brilliance are not easy to achieve and are thus not common. Artistic works, for instance, can only be achieved through talents and natural abilities. Therefore, the authors of such works need to be protected if they are to enjoy the fruits of their intellectuality. Intellectual property involves but is not limited to the identification and protection of the rights of individuals or organizations to enjoy the fruits of creating such property. Intellectual property exists in many forms. Some include patents, copyrights, trademarks, trade secrets, rights to fair competition and design protection. A patent is a guarantee given to an inventor of a new product or technology that their invention will be protected. The patent gives an inventor exclusive rights to what they have invented and can is a source of financial gains (Bently et al. 375). The patent, therefore, motivates people to do more research and inventions as they are assured of exclusive rights. Patents have a limit of about twenty years. The owner of the patent can, however, decide to share their patent rights with whoever they want to. A patent is important as it prevents third parties from commercially selling, manufacturing or distributing an invention. Copyrights protect artistic works like novels, music, books, drawings, newspapers, plays, architectural drawings and acting. Copyrights give the creators of artistic works protection against the copying, reproducing, and any other illegal use of their works for benefits to third parties (Bently et al. 31). The owners of copyrights have ...