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Intellectual Property

Intellectual Property Definitions:
  • Intellectual property (IP) is any developed property, invention or work product based on human intelligence that is protected by property laws from unauthorized use by another person. IP refers to the ownership of and exclusive legal rights of an idea or design by the person who invented the concept. That is, no other person is lawfully allowed to copy or reuse the creative product without the owner’s permission.
  • Intellectual property is historically designed by four divisions: copyright, patent, trademark, and trade secrets and is governed by the United States Patent and Trademark Office (USPTO).
  • Copyright is a law that provides the original owner of the property or work product (for example, a device, technology, website or book) the legal right to authorize the intended use by someone.
  • Patent is a license for the inventor to legally prevent someone or a business from manufacturing or utilizing their invention.
  • Trademark is a division of intellectual property which is comprised of design or a symbol which distinctly identifies the invention from other’s product.
  • Trade secret is a specific device or applicable technique secretly incorporated by a company for product manufacturing.