patent bussiness intellectual property right and it's implications.
Answers
Explanation:
Intellectual Property is a basket of different rights. There is no precise definition of “intellectual property” but it can be divided into the areas of trade marks, patents, copyright, database rights, designs and confidential information.
Intellectual Property are important (whether collectively or individually) to businesses as they are intangible assets that can be financially exploited because like physical property, they can be sold or licensed. Every business possesses such assets whether they are aware of it or not.
When a business is establishing its presence in the marketplace, protecting and managing its intellectual property is critical as it can mean the difference between success or failure. That is why it is important for businesses to understand the different forms of intellectual property because some involve a formal application and examination process before a right can be registered while others come into play without the need for a registration process. Below is a glossary explaining the various rights which businesses may find beneficial.