What Are The Advantages And Disadvantages Of Intellectual Property

1195 Words5 Pages
There are three common types of intellectual property; patents, trademarks, and copyrights. First, the patent which is a privilege of the property right owned by the inventor, in other words it is the property right of an invention. The duration of the patent is twenty years from the time when the inventor invented the invention. There are some people who sell a patent product without the authorization of the patent holder; this process is called infringement. If the patent holder discovered this violation then he/she can bring his/her case to the courts. If the law announced the patent’s holder right then he/she would claim all of the profit which the infringer had received; in addition to the responsible royalties. In the process of achieving…show more content…
The ease of distribution of the equipment is challenging to the four factors of fair use test; therefore universities and schools might change their syllabus and the way they teach their students according to these circumstances. Another case is a case for fair use. In general theme faculties and institutions give more care about the global research; Although all of the types of the intellectual property are neither hard nor easy to reserve there are still some advantages and some disadvantages for each and every type of intellectual property. First the advantages and disadvantages of the intellectual property in general; the first advantage of intellectual property is that the legal fees is not existing, the second advantage is the freedom in developing or changing the idea, the third advantage is the potential to lead the competition because of being the first competitor or first seller, but still indeed the movement in some markets is so fast that the intellectual property or in other words the IP is not worth the wait. There are three disadvantages of the intellectual property in
Open Document