Essay On Intellectual Property

Intellectual property is the making of the things that the mind makes up. Some examples are Music, Literature, and other artistic works such as poems, findings and symbols ect. Intellectual property law exists to protect creators and producers of intellectual goods and services by giving them time to control the use made to those productions. This allows the creators and producers to sell products and gain more money. It is a crucial element needed to maintain a competitive advantage in the market.

Intellectual property laws and explainations:

Trademarks essentially acts as an indicator of origin which helps people identify who they are or where things come from, such as Louis Vuitton. This deals with brands, images and reputation. Trade marks can last forever as long as one renews it every 10 years. Trademarks allow one to effectively gain a statutory monopoly of one’s mark. It can be used to protect one’s market share, and licensed to third parties such as franchisee, or sell it as a whole. One can also use it to raise equity for the development of one’s business.

Designs allow appearance and ornamentation for a company such that people recognize the products as a company’s. An example would be Apple Company. They use distinguishable

One can also license the right to another party. For one to be able to register for a plant variety protection, there are quite a few points for it to pass. Firstly, one must have novelty, meaning that the variety has not been sold or disposed of, by or with the consent of the breeder, and that the sale or disposal is made outside Singapore 4 years before date of application. It must also have distinctness, uniformity and stability. Lastly, it must be given a suitable denomination, which is the unique name or identification for the plant