Ch 5- Intellectual property (IP)

• IP represents the property of the mind

or intellect.
• IP is often a valuable asset and it is
important that it be clearly identified and
safeguarded.
 Intellectual property (IP)

• There are five main types of IP rights:

– patents
– trademarks
– industrial designs
– copyrights
– trade secrets
 Patents

• Patents are exclusive rights to exploit

(e.g. produce and sell) a particular
product or use a specific process for a
certain period of time.
• Patents are only granted for inventions
that are new and not obvious to people
who understand the technology.
 Trademarks

• A trademark is a sign that is used to

distinguish the products and services of
one trader from those of another.
• It can be a letter, number, word, phrase,
shape, logo, picture, aspect of packaging
or a combination of these.
 Trademarks

• While a patent protects the function, the

trademark protects the look of a business.
 Industrial designs

• A design refers to any aspect of the

shape or configuration of the whole or
part of an article.
• The right provided by a design
registration is in many ways similar to that
provided by a patent but the protection is
limited to the appearance of the product.
 Copyright

• Copyright is an exclusive legal right to

literary, musical or artistic work and the
right to produce or reproduce that
work by making copies or performing
the work.
 Copyright

• Many copyright laws also contain

provisions for the protection of ‘works of
applied’ art, for example artistic jewellery,
furniture and greetings cards.
• Copyright is an automatic right that arises
when a work is created.
 Trade secrets

• A trade secret is any idea, formula,

pattern, device, process or information
that provides the owner with a competitive
advantage in the marketplace
• Includes marketing plans, financial
forecasts, employees’ rosters and
laboratory notebooks