4.2 Limitations Of Intellectual Property

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4.1 What is Intellectual Property?
Intellectual property is the intangible asset used to describe a variety of rights that results from innovation, invention and all the works originate from the creation of mind (Duening, Hisrich and Lechter, 2015). According to the World Intellectual Property Organization (WIPO), this property is not about the copies of the work but the knowledge and information reflected in them. World Intellectual Property Organization classified these creations into industrial property (which refers to inventions, trademarks) and copyright which involved literary or artistic creations (Gilman, 2013). Illegal use of these properties may cause damage to the original authors, founders as well as to the state (Malikovna, 2015).
4.2 Limitation of Intellectual Property …show more content…

However, society has found out some downside and the limitation where an intellectual property owner’s control is not unlimited. First of all, there are some innovations is not eligible under the protection of US intellectual property law. In patent law, the law of nature, abstract of ideas and the natural phenomena is not under protection. Furthermore, generic marks also unprotected under the trademark law. In copyright law, a creation must be fixed in a tangible form that is perceptible for protection to adhere (Dennis,

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