- Role in Innovation:
- Provide exclusive rights, allowing creators to negotiate payment for use.
- This financial incentive encourages investment in research, design, and testing.
- Motivates the creation of new medicines, high-technology products, films, software.
- Protecting Creators’ Rights:
- Copyrights: Protect “expression of ideas” (books, films, software).
- Patents: Protect “inventions” (new processes, machines, chemicals).
- Trademarks: Protect brand names, logos, symbols.
- Trade Secrets: Protect confidential business information.
- Geographical Indication (GI): Protect products with specific geographical origin and reputation.
- Industrial Designs: Protect ornamental or aesthetic aspects of articles.