Understanding the Core Fundamentals of Intellectual Property

Definition of Intellectual Property:

Intellectual Property may be defined as any creation of the mind, for which the owner has exclusive ownership or rights. The implication of having rights for such property is that it cannot be used by anyone without getting the required permission from the person who owns it, or has patented it.

It is for this reason itself that there many lawsuits these days which have a complainant alleging that his or her idea have been used without permission, and he or she would like adequate compensation for it, monetary or otherwise. The main reason for this is that intellectual property is a thing of his mind, and for that reason it is intangible.

Textbooks on Intellectual Property:

Some of the basic textbooks that can assist you in gaining a strong knowledge of intellectual property is:

1) Intellectual Property, Valuation Exploration and Infringement Damages: 2015 Cumulative Supplement, 11th Edition by Russell L. Parr, Gordon V. Smith.

2) Intellectual Property Operations and Implementation in the 21st Century Corporation by Lanning Bryer, Scott J. Lebson, Matthew D. Asbell, 2011.

Examples of intellectual properties:

• Trademarks
• Copyrights

These are but only a few examples of intellectual properties!

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