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:
“One of the most difficult aspects of being a parent during the middle years is feeling powerless to protect our children from hurt. However “growthful” it may be for them to experience failure, disappointment and rejection, it is nearly impossible to maintain an intellectual perspective when our sobbing child or rageful child comes in to us for help. . . . We can’t turn the hurt around by kissing the sore spot to make it better. We are no longer the all-powerful parent.”
—Ruth Davidson Bell (20th century)
“It is better to write of laughter than of tears, for laughter is the property of man.”
—François Rabelais (1494–1553)