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:
“Material advancement has its share in moral and intellectual progress. Becky Sharp’s acute remark that it is not difficult to be virtuous on ten thousand a year has its applications to nations; and it is futile to expect a hungry and squalid population to be anything but violent and gross.”
—Thomas Henry Huxley (1825–95)
“We do not deride the fears of prospering white America. A nation of violence and private property has every reason to dread the violated and the deprived.”
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