Intellectual property means the legal rights that result from intellectual activity in the industrial, scientific, artistic and literary fields. Intellectual property is divided into two categories: 1) Industrial property, which consists of inventions, patents, trademarks and industrial designs; and 2) Copyright, which consists of literary and artistic works, including poems, novels, plays, musical works, films, drawings, paintings, photographs, sculptures and architectural designs.
The purpose of having intellectual property law is to safeguard creators of intellectual goods and services by way of granting them certain time-limited rights to control the way those products are used. Those rights, however, do not apply to the physical object in which the creation may be embodied.
Intellectual property includes rights relating to trademarks, service marks and commercial names and designations; scientific discoveries; literary, artistic and scientific works; inventions in all fields of human endeavor; industrial designs; performances of performing artists, phonograms and broadcasts; and protection against unfair competition
We are constantly surrounded by intellectual property. It is with us at work, at school, and at home. Everywhere we turn there are results of human creativity and invention. Property law guidelines help to promote creativity and innovation, and encourage respect for the intellectual property rights of others.