Current Issues in Intellectual Property Essay Example | Topics and Well Written Essays - 2000 words

Current Issues in Intellectual Property - Essay Example Most of the legal principles to encourage and establish the intellectual property rights have evolved over decades. The intellectual property laws were strongly established in the 19th century due to the different evolutions in the global business environment. Today the intellectual property laws and rights have become a commonplace concept in almost all countries accrues the globe. Intellectual properties are not only applicable to artistic creations but are also used to protect inventions and discoveries which have commercial value. Intellectual properties are protected by the law due to the usefulness of these properties in enabling the general people and society to earn financial and economic benefits and recognition from their discoveries, creations or inventions. It can be ascertained that striking a right balance between the interests of the public and those of the innovators is likely create an environment which will support the flourishing of creativity and innovation. Intellectual property laws can be used to protect a wide range of products and services. It includes all types of innovations and some discoveries made by individuals, teams or organizations. The intellectual property rights can be gained under copyrights, patents, trademarks, confidentiality or trade secrets. Patents can be obtained for a wide range of products including any method, substance, process or device which is inventive, new, authentic and useful to the society, technology or any other domain. Patents can be enforced legally and can be used to commercially protect and exploit inventions and creations. Some innovations like mathematical models, schemes, artistic creations, plans and processes which are completely dependent on mental processes are not eligible for getting patent rights. The copyrights are commonly used under the intellectual property laws to protect mental creations like literary works, music compositions and other forms of artistic,