intellectual property

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intellectual property

(legal)
(IP) The ownership of ideas and control over the tangible or virtual representation of those ideas. Use of another person's intellectual property may or may not involve royalty payments or permission, but should always include proper credit to the source.

Intellectual Property

 

a legal concept encompassing copyrights; rights relating to the activities of performing artists, sound recordings, radio and television broadcasts; invention and patent rights; rights to scientific discoveries; rights to industrial models, trademarks, firm names, and commercial designations; and protection from unfair competition; as well as all other rights relating to intellectual activities in industrial, scientific, literary, and artistic fields. The concept came into international use in the 1960’s. In 1967 a convention was signed in Stockholm establishing the World Intellectual Property Organization. The convention went into force in 1970. As of Jan. 1, 1972,25 states had joined the convention, including the USSR, the Ukrainian SSR, the Byelorussian SSR, Bulgaria, Hungary, Rumania, the German Democratic Republic, Czechoslovakia, Great Britain, the Federal Republic of Germany, and the USA.

intellectual property

Intellectual property refers to the proprietary assets of an organization. In the computer field, hardware circuits, software and text are copyrightable. Depending on the situation, the algorithms used within hardware circuits and software may also be patentable, and brand names can be trademarked as long as they are not generic descriptions. However, intellectual property (IP) covers more than just copyrights, patents and trademarks; for example, customer databases, mailing lists, trade secrets and other business information are also included.
References in periodicals archive ?
2009) have created a situation in which only some large interconnected firms are able to limit the damage caused by intellectual monopoly and, in particular, by patent trolls (11).
At the opposite, however, the present arrangements of the world economy favour a world of closed proprietary science which involves a high degree of intellectual monopoly (Boldrin and Levine, 2008) and closed markets, and which restricts the investment opportunities of firms, countries, and the world economy as a whole.
K (2008) Against Intellectual Monopoly, Cambridge, Cambridge University Press.
Boldrin and Levine also take on the notion that patents and copyrights are necessary to spark innovation by pointing to many examples of fast-paced development and creativity where there were no intellectual monopoly laws.
Third, intellectual monopoly leads to great inefficiency as people try to game the system.
In the absence of intellectual monopoly, innovators would put more effort into capitalizing on their ideas and stop wasting time and resources on rent-seeking.

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