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Click Here for a list of Acronyms. Glossary Home. Contact Us. Downloadable Version. Advanced Filter. Web Service. OECD Statistics. Intellectual property rights refers to the general term for the assignment of property rights through patents, copyrights and trademarks. These property rights allow the holder to exercise a monopoly on the use of the item for a specified period.
By restricting imitation and duplication, monopoly power is conferred, but the social costs of monopoly power may be offset by the social benefits of higher levels of creative activity encouraged by the monopoly earnings. Ownership of ideas, including literary and artistic works protected by copyright , inventions protected by patents , signs for distinguishing goods of an enterprise protected by trademarks and other elements of industrial property.
Source Publication:. Khemani and D. Statistical Theme: Financial statistics. Created on Thursday, January 3, Last updated on Monday, July 18,
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You usually will not own the intellectual property for something you created as part of your work while you were employed by someone else. To help us improve GOV. It will take only 2 minutes to fill in. Skip to main content.
What counts as intellectual property Intellectual property is something that you create using your mind - for example, a story, an invention, an artistic work or a symbol. Owning intellectual property You own intellectual property if you: created it and it meets the requirements for copyright , a patent or a design bought intellectual property rights from the creator or a previous owner have a brand that could be a trade mark , for example, a well-known product name Intellectual property can: have more than one owner belong to people or businesses be sold or transferred Intellectual property rights allow you to make money from the intellectual property you own.
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Intellectual property rights are important since they protect the right of the owners of intellectual property to earn money from the created property, thus stimulating others to come up with intellectual property of their own. Intellectual Property and the Internet: Looks at intellectual property in the context of the Internet. Definition of intellectual property rights: A right that is had by a person or by a company to have exclusive rights to use its own plans, ideas, or other intangible assets without the worry of competition, at least for a specific period of. Intellectual property (IP) is the vehicle through which the government incentivizes creation and shared public knowledge. In essence, this form of property refers to creations of the mind. This can include literary works, inventions and designs along with images, names and symbols being used in commerce.