1. IP Definition
2. IP Regulations
3. Scientific Discovery
4. Importance of Property

An intellectual property concept stems from the creator’s development of a new product or service. The concept of property division as moveable or immoveable was developed by Roman law, but later adopted by modern societies. Such a classification is also given under art.1226 of the civil code. With that, new property types have come into existence due to the advancement of technology and industrial revolutions. Intellectual property (IP) rights come in the form of:

  • Copyrights
  • Industrial designs
  • Patents

Such IPs came to be known due to the unique attributes. IP tends to be broad in many ways. It means a group of rights afforded to creators. With that, the conception is different at certain times, and it is open to various factors.

The information technology change, including market realities in the form of globalization, have affected IPs of all types. Moreover, the definition of IP can be complex as technology changes.

IP Definition

IP is a piece of the law that safeguards anything created from the mind, including deals pertaining to intellectual formations. In terms of concept, IP was originally created to cover the ownership of the following:

Such pieces of IP are known as information pieces that can be turned into tangible objects at some point in an unlimited fashion and at various locations around the world. In essence, IP rights are rooted in intangibility, which differ from the object in which they embody. Property rights do not exist in such copies, but within the info that forms within them.

In the modern world, the international aspect of IP is important for three primary reasons. First, globalization and world trade has changed, and IP business has grown into a larger component of trade around the world. Information-based products have enhanced in value because of new technology in the form of:

  • Biotechnology
  • Computer software
  • Semiconductor chips

Second, international commerce has grown more interdependent, creating a demand for international agreements. This means that a nation can no longer impose its economic might on other nations. Also, nations have determined this interdependence and have agreed to a lengthening on international business agreements on IP.

Third, reprographic and info-storage technology allows the unauthorized replication faster than ever, which could undermine the efforts of creators.

IP Regulations

IP entails all legal property that stems from artistic, industrial, and scientific arenas. Nations have laws to safeguard IP for two primary purposes. First, it is to lend statutory expressions to the economic and moral rights of the creators, including the right of the public to access such creations. The second reason is to solidify the creativity and the disbursement and application of the results, and to foster fair trade that would contribute to the social and economic development.

In essence, IP regulations are designed to protect producers and creators of IP merchandise and goods, including services. This also allows creators to retain control over production of such goods. Such rights do not pertain to a physical object that was created, but the intellectual creation within itself.

Scientific Discovery

When it comes to scientific discoveries, you should know that they do not resemble inventions. The general understating on international scientific discovery is that it is recognition of various phenomena pertaining to law or the laws of the universe that can be verified. Moreover, such inventions are considered new answers to various technical quandaries. Moreover, the solutions must adhere to the properties or universal laws, or they cannot be applied.

Importance of Property

When it comes to culture and industrial development, such features are used to create activity that facilitates the transference of technology, including the distribution of artistic and literary works. For instance, the Ethiopian legal system notes that the protection of IP rights is within a constitutional parameter. The constitution mentions that all Ethiopian citizens have the right to own private property, but with various restrictions.

The definition of property is an intangible or tangible product that has value due to the following activities:

  • Labor
  • Creative pursuits
  • Capital or business aspirations of citizens
  • Any other associations under the law

Therefore, the constitution declares safeguards for all property, whether it is tangible or intangible. This means that the protections are bestowed equally on IPs, as any other property.

If you have more questions on an intellectual property concept, submit your legal inquiry to our UpCounsel marketplace. UpCounsel’s attorneys will give you answers regarding anything related to IP law. Moreover, they will elaborate on creator rights if you are an inventor/creator and wish to protect your IP.