Intellectual Property is the term used for something that is the creation of brain including arts, inventions, symbols, names and images used in commerce and literature.
This property is been divided into two categories:
- Copyright includes films, arts, literary works, architectural design, and music
- Industrial Properties includes geographical indications, patent for inventions, industrial design, and trademarks
It is the kind of our own property which is been used by the creators to make them an asset for their own investment in the creation. Thus according to the Article 27, Universal Declaration of Human Rights it is been outlined that one has the right to make their creation an asset in protection with the material and moral interests resulting in the composition of arts, scientific and literary productions.
Its importance was recognized first in the year of 1883 by Paris Convention for the Protection of Industrial Property and the Berne Convention for the Protection of Literary and Artistic Works in 1886 are been monitored under an organization known as World Intellectual Property Organization (WIPO).
Now, knowing about the fact that why it is important to protect and the promotion of the intellectual property… Well, there are several reasons to do so…
- The fire to invent using self-intellect for one’s own well-being and progress in areas such as culture and technology
- The promotion and its protection catalyzes the growth in economy, new industries and jobs creation thus leading to the enhancement of the standard of living
- Legalization of the property would give birth to further inventions
Thus, intellectual properties have been the spur for the social and economic well-being which helps the countries realizing the potential of the system. Hence these intellectual properties benefit in the balance of the interests of both inventors and the public to encourage them for flourishing inventions and creativities… benefitting all of them…
Well, this is really an amazing fact to know about... as an artist it motivates me a lot to go forward and explore my brain...