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:
“All generous minds have a horror of what are commonly called “facts.” They are the brute beasts of the intellectual domain. Who does not know fellows that always have an ill-conditioned fact or two that they lead after them into decent company like so many bull-dogs, ready to let them slip at every ingenious suggestion, or convenient generalization, or pleasant fancy? I allow no “facts” at this table.”
—Oliver Wendell Holmes, Sr. (1809–1894)
“The second property of your excellent sherris is the warming
of the blood.”
—William Shakespeare (1564–1616)