Intellectual property (IP) is a juridical concept which refers to creations of the mind for which exclusive rights are recognized. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property rights include copyright, trademarks, patents, industrial design rights and in some jurisdictions trade secrets.
Although many of the legal principles governing intellectual property rights have evolved over centuries, it was not until the 19th century that the term intellectual property began to be used, and not until the late 20th century that it became commonplace in the majority of the world. The British Statute of Anne 1710 and the Statute of Monopolies 1623 are now seen as the origins of copyright and patent law respectively.
Read more about Intellectual Property: History, Objectives
Famous quotes containing the words intellectual and/or property:
“Ultimately, it is the receiving of the child and hearing what he or she has to say that develops the child’s mind and personhood.... Parents who enter into a dialogue with their children, who draw out and respect their opinions, are more likely to have children whose intellectual and ethical development proceeds rapidly and surely.”
—Mary Field Belenky (20th century)
“As a man is said to have a right to his property, he may equally be said to have a property in his rights.”
—James Madison (1751–1836)