Rosemhel M.

Luminuque

BSA 1-3

Intellectual Property Rights

Why should Intellectual Property Rights or IPO be protected, and what benefits does it
give? What is the importance of it? These are the questions we often heard regarding the IPO.
But before I proceed to answer these questions, let me first define what IPO is. According to the
World Trade Organization, Intellectual property rights are the rights given to persons over the
creations of their minds. It includes songs, literature, symbols, brands, etc. There are categories
of Intellectual Property; these are the Trademarks, Patents, and Copyrights. According to the
article, I have read, Trademarks identify the source of goods or services. On the other hand,
patents grant rights to exploit inventions. Lastly, copyrights protect the creative works of
authorship.

Modernization makes the world competitive. Some people are willing to do anything to
be successful and to gain recognition. Some might steal ideas from other creators to get the
credits. Competitors might also duplicate your ideas and make them look like their own.
Sometimes, those who steal your ideas sell them for money.

Let's take a loot in the world of business. Although Intellectual Property Rights is an
intangible asset, it gives a crucial role in the business industry. The logo, brand name, and
designs are useful in business. And these are all part of Intellectual Property. These can be
protected from competitors through the registration of IPR. Without it, competitors can be a
hindrance to our success. And this can result in a loss of revenue. If the business owner does not
protect their intellectual property, their company is at a greater risk of infringement.

Now, let's go to the world of music and literature. Poems, songs, and stories are also part
of Intellectual Property. I remember our teacher said that there are cases when authors and
composers didn't get proper credit for their works and someone else gained recognition. We can
not avoid this kind of situation if we do not give importance to Intellectual Property Rights.
There are also cases where others wanted to buy the works of the authors and composers. The
worst case of it is stealing your creation when you give your best to finish it.

Lastly, let us go to the world of technology. Improving our technology is what people are
looking for. Because as we all know, it can make our life easier. It has a negative effect, but most
of the time, it is useful. As time goes on, we can see a lot of improvements and innovations. That
is the reason why people involved in innovative technology are all competitive. They are always
updated on the ideas and creations of their competitors. It's a risky competition between them.
The first person or company to release a new improvement of technology can gain a lot of
attention and recognition. People might highly praise them. That's why stealing of ideas often
happen. There are also times when ideas of other companies improve the ideas of others to
become more successful.

In conclusion, Intellectual Property Rights can give us benefits to protect all our works or
inventions. It can also give us financial benefits. It also allows us to report a person who will try
to steal our creations. As a person who sometimes writes poems, I can be more comfortable and
will feel at ease if I know that my creations can not be stolen easily. IPR is like the lifeblood of
any inventors or creators. It gives value to your physical assets or your works. Without the
registration of IPR to what we made, we do not have the right to report a person who will try to
steal it because it will be our fault. So, always remember to be responsible for our works because
it is hard to come up with ideas and inventions.