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Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.
IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.
The importance of protecting intellectual property for Online Forum
Indeed, most people are not even aware that they own intellectual property. They assume only large corporations with profitable names; logos and brands to protect are the only ones who really possess a need to safeguard intangible assets. But basically anything that is written, visually created, and unique to an individual is intellectual property which means that millions of individuals own more than they believe. To better understand these negative effects, we will discuss six reasons why it is prudent to safeguard intangible assets. 1. Theft - Most obvious is a moral issue. It is just plain wrong to steal something that belongs to someone else but in the real world, people take what is not theirs. And if you have not found a way to at least deter someone from taking your work, you can be assured that it will be copied and used to another's benefit. 2. Loss of Reputation - In situations where you are an expert in a field, when others use your work in fleeting or inappropriate ways, your reputation as an authority is decreased. You are somehow attached to the negative work of the imposter. Additionally, if your property has been used for illegal gain, you might find it difficult to prove that you were not involved. Sadly, many people believe in guilt by association, so what started as a brilliant theory or invention has now turned into something unrespectable. 3. Loss of Income - Allowing others to use your work through complacency, negligence or plain ignorance will directly impact your earnings. If you have invented something that is unique or you have written something in your field of expertise, then someone else is reaping some or all of the profits. If they can better market your creation, they will undoubtedly become the leading source for the item and ultimately the biggest earner. In addition, your “brand” is being diluted. That is to say that instead of you being the only person to whom the consumer comes, there is at least one other way to get what they want - from someone who has stolen your property. 4. Asset is Devalued - Should you ever wish to sell your intellectual property, it will be worth more if it is unique. But if others have stolen it, the value is quickly debased leaving you trying to defend why it is worth more. Likewise, you may be faced with the unimaginable task of proving that you, and not the thief, rightfully own the content, graphics, lyrics, melody, invention or software. 5. Laws Differ Between Countries - Although international laws exist to prevent trademark and copyright infringements, the reality is prosecution is difficult. Not living in the same country as the offender will make taking someone to court very difficult, and even a good Intellectual Property Lawyer will have a hard time making a good case (more lawyer info on our favorite lawyers info blog). Not only may it be costly, but some countries do not see these issues as criminal behavior. Trying to get a court to take action against a foreigner may be even more difficult. And in the best case scenario, where one wins the case, the offender may not have anything to recompense the victim so basically he/she walks away with impunity. We've spoken to quite a few lawyers in San Diego, and not a single one would even get involved! 6. Prevent Others from Being Ripped Off -By protecting your intellectual property, you help others to avoid scams and fake products.
Intellectual property refers to creations of the mind: inventions; literary and artistic works; and symbols, names and images used in commerce. Intellectual property is divided into two categories: Industrial Property includes patents for inventions, trademarks, industrial designs and geographical indications.
Intellectual property is a term referring to creations of the intellect for which a monopoly is assigned to designated owners by law. Some common types of intellectual property rights (IPR) are trademarks, copyright, patents, industrial design rights, and in some jurisdictions trade secrets all these cover music, literature, and other artistic works; discoveries and inventions; and words, phrases, symbols, and designs.
While intellectual property law has evolved over centuries, it was not until theth century that the term intellectual property began to be used, and not until the lateth century that it became common place in the majority of the world.
In any online forums, IP is strictly abide by Law, so the people who use such forums or webinar, group discussion should not break the laws lodged as per IP rights.
Mr. Vikas has made the exhaustive explanation and I do not have something more to add.
IP is anything that does not have a physical shape and yet worth a monetary value to a firm. Usually it is listed on the Non-current assets column in a balance sheet.
IP can be copy right, patent, trademark ...etc.
The value of an IP for a firm is depending on its industry, for Bayt, it is a recruiting website, the IP would be the users list, the forums, the discussions within the website and such.
All has been already said. I just would like to add that sometimes I have a feeling that people instead of searching by themselves are using other people on bayt. And it could be understandable if they were not able/it would be hard to find the answers on Google, but ideas (especially those good, sophisticated ones) are property of inventor and nobody should be surprised that intellectual property belongs to particular not everybody.
Not my area of expertise :)
I agree with my colleagues answers, I have nothing more to add.
