Everything around us or concerning our creativity has a value. Anything that you build or something resulting from your creation is told to be your intellectual property. In the past, when the concept of intellectual properties did not exist, individuals could not protect the idea/creations from being stolen or spoofed by a third person as there were no laws and regulations regarding the same. However, in recent times, the concept holds for data and corporate information as well. So what are intellectual properties?
Generally, intellectual property(IP) is a form of invention, information, and idea created through human intellect. This property cannot be shared or stolen by anyone as it legally belongs to the creator and is protected by law. Meaning, if anyone chooses to bypass the law and implement the IP without the architect’s permission, it can include monetary penalties as a form of punishment. Thus, IP allows the protection of private property, sensitive data, designs, art, or ideas and creates an environment where such entities are protected from third parties and are allowed to grow and flourish. An Active Directory Admin has to monitor for all the infringes related to IP within the organization.
Types of Intellectual property
A few types of intellectual property protection include:
- Patents: This form of intellectual property protection is employed explicitly for physical innovations only, allowing the owner to decide how and where the innovation will be introduced. If any third person chooses to act against the claws imposed by the owner, they can be prosecuted or charged money for acting unlawfully.
- Copyrights: This is legally binding that creators might use to protect their artworks or literary pieces. This could include art pieces, novels, books, music, films. Owners can charge money if a third party desires to use their work, and if they do not comply with the copyrights, they are penalized under copyright infringement.
- Trademarks: This one is specifically for corporate to protect their commodities from external use without their permission. Trademarks are used to signify which product belongs to which business. Each trademark has to be unique from the other and must be present on every product unit.
Advantages of having an Intellectual property
The first advantage is the protection of crucial and creative work and also includes a monetary benefit especially if the commodity, idea, or invention is highly demanded in the market. For corporate or even sole proprietors, holding intellectual properties allows them to gain an edge over competitors. They could hold commodities or certain things that are extremely crucial and force other competitors to lag. Intellectual properties are also highly important for fostering innovation and attaches a moral and ethical value when giving the owner the deemed credit and respect for their creation.