Justification of Intellectual Property Protection Essay

Justification of Intellectual Property Protection - Essay Example The paper throws light on intellectual property as any change of mind or innovation. This property, maybe a symbol or a logo, any unique name designated for a company, creative and artistic invention. Intellectual property is secluded or patent innovation. Certain brands use a specific trade mark and music companies copyright their sounds and videos patterns, professionals carry out methods formulas and technologies which are confined in official documents or economic values that are used commercially. Intellectual property is the intangible or insubstantial vague property on the other hand special private and personal property of any individual or a company is tangible is easily and clearly defined. IP is any form of expression, this includes images, symbols, logos, title, label, techniques, methods used in business industry or commerce; software, music rhythms literary. This personal effort is the innovation and creation of mind and displayed and manifested, it has physical existen ce and exclusive property rights. Exclusive property rights include copyrights, trademarks, patents industrial design rights and trade secrets, these rights are intellectual property and protect company’s different types of unrelated legal concepts. The British statue of Anne 1710 and statue of monopolies 1623 are the two patent laws, copyrights that are nowadays used respectively, these laws were originated in the late 20th century and since then the word intellectual property started to be used. ... This absolute protection thus deals intellectual property as real property. The World Intellectual Property Organization (WIPO) treaty and other global agreements are based on the fact that the intellectual property rights should be protected as it is essential to the economic growth. The following reasons are given in the handbook published by the World Intellectual Property Organization related to the intellectual property laws. "One is to give statutory expression to the moral and economic rights of creators in their creations and the rights of the public in access to those creations.† Inventions were not the reason to initiate the history of patent, but it was in fact the grants given by the Queen Elizabeth 1 (1558-1603) and other royal family members for the privileges aimed at creating monopoly. nearly 200 years after the end of the reign of Elizabeth 1 a patent now shows and represents a legal status to the rights which are obtained by the person inventing something whic h gives him the right to control that invention exclusively, control and restrict its production, sale or any restricting any other method that might make that invention available for others to use independently. (Mossoff, A, 2001, Vol. 52, p. 1255) The aim of this paper is to study the justifications or arguments that surround the formation of intellectual property law. The paper will open discussion with the aims of intellectual property law and then move to the justifications. The paper will also discuss the limitations to these justifications and in the end, conclude the discussion with a critical evaluation of the intellectual property law terms. Aims of Intellectual Property Law This section will deal with the protection of intellectual property incentives taken for those