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Ip Intellectual Property

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Intellectual Property

Abstract Term Intellectual Property is widely used in today’s world. You can't find a man, who hasn't heard this words, but why is this term so popular? Well, people or organizations are working very hard to create something new, something theirs and they are expecting to gain something from that, usually gain financially. They are not willing to give you right use their creation for free, but rather ask you money for that. Even if inventor isn't trying to protect his/her property, it is ethical to respect their work and pay them for their work, but as we said cases like that doesn't happen frequently and inventors usually try to protect their property, but how can they achieve that? Claim that it's your property? So what? If you create something, it automatically becomes your intellectual property, but it is not illegal for others to use your invention. In order to make that illegal you must obtain patent, copyright or trademark, these are three tools for inventors to protect their Intellectual property. As you may guessed by now, in this case-study we will try to answer the question: How individuals or organization can protect their intellectual property? And is the system of intellectual property's well-designed or there is some flaws, which can be used as it should?

As we already said everyone knows what intellectual property means in general, but to give more particular answer: Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. Patents, Copyrights and trademarks are tools, which protects IP by law and enable people to earn recognition or financial benefit from what they invent or create. A patent is an exclusive right granted for an invention. Generally speaking, a patent provides the patent owner with the right to

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