Importance Of Intellectual Property

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Introduction: What is the meaning of Intellectual Property? Intellectual Property refers to the thinking or the creations of one’s mind, which is given exclusive rights. Usually the people from this industry are, Innovators, artistes and business owners. These people are granted with certain rights to a range of intangible assets for a stated and specified duration. Intellectual property is important to people and companies out there that created works. Individuals have the rights to protect their own creation and preventing outsiders to plagiarize their works. Inventions, designs, confidential information, goodwill, reputation, trade secrets and many more are assets of one, which are extremely valuable if they are correctly protected. Intellectual property can be bought, sold or exchanged for something else. Which means, an intellectual property owner can prevent others from remaking, using or copying the forms of expression of their product. In Singapore, there are a few different intellectual property laws. This Intellectual property system aims to build an environment where people’s creativity, and thinking’s can be flourish even further. Brief background of importance: Intellectual property is an asset to an intangible asset to one’s company. They act as goodwill for the company. With the help of intellectual Property, they provide business partners, investors or financial institutions the assurance and opportunity to invest in or joint effort with the organizations they wish to work with. So in layman’s term, Business’s Intellectual Property is protected in law, helping to earn the deserved recognition or financial rewards and benefits from what they invented. Trademarks, patents, copyright, registered designs and... ... middle of paper ... ...re Available from: http://www.ipos.gov.sg/ipcf/TheImportanceofIP.aspx [Accessed 29 May 2014] • Singapore Law, 2009. Commercial Law chapter 12: Intellectual property law. 23 March [online]. Singapore Available from: http://www.singaporelaw.sg/sglaw/laws-of-singapore/commercial-law/chapter-12 [Accessed 29 May 2014] • Case Note Court of appeal clarifies the test for similarity of goods in trademark infringement. Available from: http://www.leenlee.com.sg/uploads/media/Case_Note_-_Court_of_Appeal_Clarifies_the_Test_for_Similarity_of_Goods_in_Trade_Mark_Infringement.pdf [accessed May 28, 2014] • SINGAPORE: Use of SUBWAY NICHE Not an Infringement of SUBWAY. SINGAPORE: Use of SUBWAY NICHE Not an Infringement of SUBWAY. N.p., n.d. Web. 28 May 2014. Available from: http://www.inta.org/INTABulletin/Pages/SINGAPOREUseofSUBWAYNICHENotanInfrin [Accessed May 28, 2014]
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