Environment Essay: The Importance Of Intellectual Property

Intellectual property can be defined as any product of human intellect that is intangible but has value in the marketplace. The reason it is called intellectual property is because it is the creative product of the human imagination, creativity and inventiveness. Although, intellectual property is the creative product of the mind; it is also creative in inventions, literary and artistic works, names, images, symbols; as well as designs used in commerce. Literary and artistic works comprise every production in the literary, scientific, and artistic domain, whatever the form or the medium it includes; but it is not limited to books and other writings, lectures, dramatic works, choreographic works, music, movies, drawings, paintings, architecture, sculptures, engravings, photographs, works of applied art, illustrations, and maps. It is, therefore, called intellectual property because it results from the intellectual, creative process. Intellectual property plays an important part of our nation’s economy and its competitive advantage in the world. However, it is also an important issue for entrepreneurial

Furthermore, facts widely known to the public and mathematical expressions are not copyrightable. However, original compilations of facts, like the Yellow Pages in a telephone book, are able to be copyrighted. One important exception to liability for copyright infringement is the “fair use” doctrine embodied by Section 107 of the Copyright Act. It provides exceptions, to some degree, for the use of copyrighted works in criticism, comment, news reporting, teaching, scholarship, and research. The factors involved in determining fair use include the purpose and character of the use, the nature of the work, the amount and substantiality of the portion used in relation to the work as a whole, and the effect of the use on its potential market for or