What´s Intellectual Propterty Essay - 901 Words

Intellectual Property (IP) refers to the fabrication of human minds which perceive to be recognised for exclusive rights. Pioneers, maestros and sole-proprietors are granted exclusive rights to a collection of intangible assets for a specified period. There are various types of IP laws. In Singapore, they are protected by trademarks, copyrights, patent, geographical indications, registered designs, plant varieties protection, layout-design of integrated circuits and miscellaneous amendments. Even though intellectual property is an intangible asset to a company, they give business partners and financial institutions the assurance to partner with and add capital with the chosen organisation, making them as valuable as a tangible asset.†¦show more content†¦Lastly, the invention must be useful and have some form of practical application. It should be capable of being made or used in some form of industry. However, if the invention of a method for the treatment of the human or animal body by surgery or therapy, or of a diagnosis practised on the human or animal body, or an invention that could propagates offensive, immoral or anti-social behaviour, even if it satisfies the key criteria for patents it is still not a patentable invention. Trademark is a distinct symbol of sign that you can use to separate your businesses or services from those of other businesses. This helps to protect businesses by inhibiting other businesses from using its name or logo. A design refers to the details of a shape, configuration, pattern or ornament carried out to an article by any industrial procedure. Registering a designs will primarily help you to protect your designs for industrial use. By registering a design, you obtain a right to proprietorship and the right to prevent others from using the design without your permission. You can make use of your design in many ways. You may use it to save guard your market share by barring copying by others, license it to third parties for commercial returns or sell the design for a sum of money. To be eligible for registered design, it must satisfy two criteria in general. Firstly, the