What are intellectual property rights?

✡️ Intellectual property (IP) is the general name used to refer to inventions, trademarks, copyrights, industrial designs and other intangible assets formed from creative activities of intelligence and understanding. In the broadest sense, they do not exist in any physical form.

💵 Like other types of assets, intellectual property is also owned and can generate income. Therefore, intellectual property can be considered an asset.

Intellectual property is often the result of investment and will generate profits in one form or another. Intellectual property is different from other types of property because it has no shape and does not exist in any physical form because it is human intelligence, creativity and ideas.

🔒 There are many different types of intellectual property rights and each type is governed by separate legal regulations. Usually, intellectual property rights are divided into two branches, including “industrial property rights” and “copyright rights”.

🛠 Industrial property rights include types of property created mainly for the purpose of technological, industrial and commercial improvement such as inventions, industrial designs, trademarks, service marks, secrets trade and geographical indications.

👉 Types of intellectual property rights: will be mentioned in the next article.

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