Introduction to Intellectual property and various property laws in Singapore
First of all, the definition of Intellectual property refers to the creation of mind, such as literary and artistic works, inventions, designs, names, symbols, logos and even images used in industries.
Some example of Intellectual property are that business owners, they are given exclusive rights for the use of their trademark or even their identity, logo, which were originally established by them.
Even for creative artistes like singers, artist are granted copyrights on their musical, drawings, artistic works for their creation. This would allow the artistes to protect their product from getting using by other people without claiming credits from the original owner while on a business perspective they are able to maximise their value through franchise, licensing out or transfer their Intellectual property.
Second of all, there are eight types of intellectual property. They are Patent, Trade Mark, Registered Design, Plant Varieties Protection, Copyright, Geographical Indication, Trade Secret and Layout-design of an integrated circuit.
Intellectual Property refers to the creation of human minds for which exclusive rights are recognised. Innovators, artistes and business owners are granted certain exclusive rights to a variety of intangible assets for a specified duration. To a company, intellectual property is an intangible asset. It gives financial institution and business partners the confidence to collaborate with or invest in the organisation. Business owners can also maximise the value of their intellectual property by transacting, franchising or licensing out.
There are eight types of intellectual property. They are: Patent, Trad...
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All in all , protecting one intellectual property is important to the success of the business because it protects more than just the concept of even the idea , it protects the originality of the business assets that may be linking to the core services of the business itself and the overall long-term viability. To be honest , when you have great idea for a service or even a product, there will always be people who wants to copy and duplicate the idea and make money through your idea. Depending on circumstances , you can either use trademarks or copyrights or even patents. All of which would cover the intellectual property in different areas. These would prevent competitors or anyone else to use your ideas for their own profit without your permission. Thus always remember the importance of protecting one’s intellectual property, it’s your idea not theirs.
Singers and songwriters need to make a living somehow. They know that downloading music is a way to get their voice heard, but they also know that it is significantly hurting the business. "When your product is being regularly stolen, there comes a time when you have to take appropriate action," said RIAA president Cary Sherman (RIAA 1). There are a lot of people involved in the music scheme when it comes to who needs to get paid by the revenue. From the sale of one CD, singers get one small fraction of the cost, another fraction goes to song writers, musicians also get some of the profit along with retailers, engineers, technicians, warehouse working, and ever...
Before Information Technology, tangible property such as land, buildings, goods, equipment etc. was the most valuable asset of a business. Now economic power is in the monetization of knowledge, ideas and innovation. Work or invention which results from creativity such as a new design or manuscript gives the creator the right to apply for a patent, copyright or trademark and to benefit from their authorship of scientific, literary or artistic creations.
a car, wallet, photograph, shirt, pen and phone and so on) (Roger, 2012). The intangible personal property, on the other hand, is personal property that by its very nature does not have a physical existence as such, but is merely a right that can be owned as opposed to a real, tangible objects (i.e. stocks and bonds) (Roger, 2012). Overall, the real, intellectual and personal property has the same rights under the law, but their circumstances are very different in
According to “The Changing Landscape of the Music Business,” Artists have to develop an image that appeals to the supporters in order to be unique. This can be achieved through the promotion of their music, but if the artist makes the wrong move, this can result in the artist struggling to sustain their career. There are many ways that licensing music can go wrong, with it either going into the wrong hands, or is abused with promotion so that the song isn’t enjoyed anymore, resulting in less sales or profit for the
If someone steals their song for use of a commercial or advertisement, they will not make anything. Big artist tend to make their money from merchandise or tours so, big deal if someone uses their song and they don't get payed, right? No, this could leave their fans feeling betrayed. The artists fans, are their biggest costumer. If an artist's music is used in an advertisement that some of the fans don't support, they will stop financially supporting the artist.
Intellectual Property Law used to only protect art, music, and literature, but because of technological development, Intellectual Property Law now also protects a greater variety of innovations including designs, inventions, symbols, discoveries, and words. The phrase “intellectual property” was first known to be used in the late 1700’s; however, it was not widely talked about, nor was the Intellectual Property Law in actuality commonly implemented. Intellectual Property Rights slowly gained more attention by mid-1800’s after the Industrial Revolution had taken place: more companies were created, competition between corporations became fiercer, and owning unique innovations were crucial to winning the competition. However, as Intellectual Property
When a song is recorded and fixed into — typically — a compact disk, there is money paid to the copyright owner. For every single copy of it, regardless of it being sold or not, the copyright owner will get an amount of money. The money generated through this method gets the term: “Mechanical Royalty”. Mechanical royalties can be split between the publisher and the songwriter or composer according to the deal that is made in the contract. Similarly, if another artist decides to do a cover of the recorded material, he would not be exempted from getting a permission, which is called a compulsory mechanical license, for which he needs to pay that will eventually be collected by the copyright
Original intellectual property (IP) – This refers to the creations of the mind. Ideas that have been created by individuals. The idea of the game is to have the user music powering the whole gameplay experiences. The user will play as a character on a snow bored snowboarding over waves that the music has created.
Music Copyright is a very important aspect of the music industry. The Copyright law was established to preserve the creativity and rights of authors, composers, performers of expression. Copyright is the law that protects the property rights of the creator of an original work in a fixed tangible medium. (http://dictionary.reference.com/browse/copyright) A fixed tangible medium is something substantial like copying lyrics on paper or putting a song on tape or CD. Copyright can be seen every where in the music industry. Many music artist of our culture today have been involved in copyright issues. Recently, on MTV news it was stated that, "As the music industry becomes increasingly concerned about protecting the integrity of artists copyrights in the age of MP3. Prince has now filed a motion in New York federal court aimed at shutting down several websites offering free downloads of the Artist's songs." (http://www.mtv.com…19990304/prince.jhtml) In addition, in recent music news, "Nine Inch Nails lead man Trent Reznor copyright infringement suit was dismissed. Another artist claimed that the Reznor had stolen material for his last album." (http://www.mtv.com…19991202/nine_inch_nails.jhtml) The copyright law has become an important legal aspect to know our music generation.
The heart of the music publishing business lies in the rights to the original music. After the music is successful enough to financially support itself the music is printed in mass quantities in a variety of ways. This could be everything from guitar tabs to choral arrangements for a junior high choir. The publisher's main source of income is through record royalties, performance royalties received from companies like the American Society of Composers, Authors and Publishers (ASCAP), Broadcast Music Incorporated (BMI), and the Society of European Stage Authors and Composers (SESAC) for performances of music copyrighted by the publisher. These royalties could be from many different types of performances but most are though radio and songs on television. The success of a songwriter lies in the greatly in the hands of his/her publisher. Normally we ...
The World Intellectual Property Organization, Intellectual property is the ‘products of the mind: inventions, literary and artistic works, any symbols, names, images, and designs used in commerce’. Intellectual Properties such as Patents, designs, trademarks and copyrights are protected by laws. The US government offers different types of protection for these properties. The Lanham Act (15 U.S.C.A. Section 1051 et seq., also known as the Trademark Act of 1946, provides protection for trademarks. A trademark is defined as a name, word, symbol, or device or any combination thereof, adopted and used by a manufacturer or merchant to identify its goods and distinguish them from those manufactured and sold by others.
There are many reason that why is it important to protect one’s intellectual property. Some of the reason are Creator being accused as a theft, Loss of Reputation, Loss of income, Loss of Asset and Loss of Authority Rights.
At the end of the day, the decision on if and how intellectual property (IP) protection is sought must be made in the context of an organizations IP strategy and keeping in line with the organization goals and objectives. For company who prefer to compete in the free market, copyrighted software is sufficient in protecting the legal rights of the software created. For company whose main objective is to collect licensing rights and back end deals that comes with patent protection, than it is advisable to seek for patent protection. For me, a copyright is more than sufficient to acknowledge an invention and the inventor’s rights to claim.
Intellectual property is information, original ideas and expressions of the persons mind that have profitable value and are protected under copyright, patent, service mark, trademark/trade secret regulation from replication, violation, and dilution. Intellectual property includes brand items, formulas, inventions, data, designs and the work of artists. It is one of the most tradable properties in the technology market.
The new technology has increased the importance of intellectual property. This new technology can be patent, trademark, copyright, etc .. When we talk about copyright protection comes in our mind that usually awarded to literary, musical, dramatic or original artwork. But the growth of new technologies has led to new concepts such as database software, several works in web, etc., computer designs.