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:
“But as these angels, the only halted ones
among the many who passed and repassed,
trod air as swimmers tread water, each gazing
on the angelic wings of the other,
the intelligence proper to great angels flew into their wings,
the intelligence called intellectual love....”
—Denise Levertov (b. 1923)
“Let the amelioration in our laws of property proceed from the concession of the rich, not from the grasping of the poor. Let us understand that the equitable rule is, that no one should take more than his share, let him be ever so rich.”
—Ralph Waldo Emerson (1803–1882)