Question

Explain five common types of Intellectual Property Rights.

Answer 1

1. Patents: It grants an inventor the right to exclude others from making, using, selling, offering to sell, and importing an invention for a limited period of time, in exchange for the public disclosure of the invention. The inventions which can be patented are as follows:
   1. Art, process, method or manner of manufacture
   2. Machine, Apparatus or other Articles.
   3. Substances produced by Manufacturing.
   4. Computer software which has Technical application to industry or is used with Hardware Product Patent for Food/chemical/medicines or Drugs
2. Copyright: It gives the creator of original work exclusive rights to it, usually for a limited time. It means to apply to a wider range of creative, intellectual or artistic forms or work. For example musical composition, literary work such as poems, plays etc.
3. Industrial design: It protects the visual design of objects that are not purely utilitarian. It can be a two or three dimensional pattern used to produce a product industrial commodity or handicraft.
4. Trademark: It is a recognizable sign, design or expression which distinguishes products or services of a particular trade from similar products or services of other traders.
5. Trade secret: Any confidential business information which provides an enterprise a competitive edge may be considered a trade secret.
   For example, Coca-Cola formula.