Intellectual property (IP) is a legal concept which refers to creations of the mind for which exclusive rights are

recognized. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs.

Types of Intellectual Property

Copyright - A copyright gives the creator of original work exclusive rights to it, usually for a limited time. Copyright may apply to a wide range of creative, intellectual, or artistic forms, or "works". Specifics vary by jurisdiction, but these can include poems, theses, plays and other literary works, motion pictures, choreography, musical compositions, sound recordings, paintings, drawings, sculptures, photographs, computer software, radio and television broadcasts, and industrial designs. Copyright does not cover ideas and information themselves, only the form or manner in which they are expressed. Example: The copyright to a Mickey Mouse cartoon restricts others from making copies of the cartoon or creating works based on Disney's particular mouse, but does not prohibit the creation of other works about mice in general, so long as they are different enough to not be judged copies of Disney's. Trademark - A trademark is a recognizable sign, design or expression which identifies products or services of a particular source from those of others. Examples: Company slogan or catchphrase: Just Do It Company or brand name: Ford Product or service name: Amazons Kindle Domain name: Amazon.com A symbol, image, graphic, or design Company logo: Ford logo, Nike logo Shape: Coca Cola bottle Michael Buffer is an American ring announcer for boxing and professional wrestling matches. Buffer began using the phrase "Let's get ready to rumble!" in

1984. By 1992, he acquired a federal trademark for the phrase. Buffer uses his famous phrase in various licensing deals. As of 2009, Buffer had earned over $400 million from licensing on the trademark. Patents - A patent grants an inventor exclusive rights to make, use, sell, and import an invention for a limited period of time, in exchange for the public disclosure of the invention. An invention is a solution to a specific technological problem, which may be a product or a process. Example: Microsoft was granted a total of 2704 patents in 2012, Apple 1136. Samsung Electronics and its display subsidiaries picked up over 5,500 patents.

Geographical Indication - A geographical indication (GI) is a name or sign used on certain products which corresponds to a specific geographical location or origin (e.g. a town, region, or country). The use of a GI may act as a certification that the product possesses certain qualities, is made according to traditional methods, or enjoys a certain reputation, due to its geographical origin. India, as a member of the World Trade Organization (WTO), enacted the Geographical Indications of Goods (Registration & Protection) Act, 1999 has come into force with effect from 15 September 2003. Examples: Maharashtra- Nashik valley wine, Mahabaleshwar strawberry and Paithani sarees, West Bengal- Darjeeling tea

Trade secrets - A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers. Example: One of the most famous trade secrets comes from Colonel Harland Sanders, who created a
recipe for a chicken coating about 70 years ago that contained 11 herbs and spices.

That same recipe is still used today at his popular chain restaurant, KFC (aka Kentucky Fried Chicken). Initially, as he drove to visit potential franchise owners, Sanders kept the secret recipe in his head -- and the spices in his car -- although he eventually wrote it all down. His original, handwritten copy is hidden in a safe in Kentucky, and only a few select employees, bound by a confidentiality contract, know what the recipe is. For further protection, two

separate companies each blend a portion of the mixture, which is then run through a computer processing system to standardize its blending Rumor has it the employees-in-the-know can't ever travel together by plane or auto to further safeguard the secret, and that once, when KFC modernized its security systems, the recipe was temporarily moved to another secret, secure location via an armored car, which was further guarded by a high-security motorcade