Tan, Hannah

BSIT701A

TECHNOP
August 9, 2016

1. Intellectual Property
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.
2. Patents
A patent is an exclusive right granted for an invention. Generally speaking, a
patent provides the patent owner with the right to decide how - or whether - the
invention can be used by others. In exchange for this right, the patent owner
makes technical information about the invention publicly available in the
published patent document.
3. Trademarks
A trademark is a sign capable of distinguishing the goods or services of one
enterprise from those of other enterprises. Trademarks date back to ancient
times when craftsmen used to put their signature or "mark" on their products.
4. Licensing
Licensing is the process of leasing a legally protected (that is, trademarked or
copyrighted) entity a name, likeness, logo, trademark, graphic design, slogan,
signature, character, or a combination of several of these elements. The entity,
known as the property or intellectual property, is then used in conjunction with a
product. Many major companies and the media consider licensing a significant
marketing tool.
5. Contracts
A voluntary, deliberate, and legally binding agreement between two or more
competent parties. Contracts are usually written but may be spoken or implied,
and generally have to do with employment, sale or lease, or tenancy.
A contractual relationship is evidenced by (1) an offer, (2) acceptance of the
offer, and a (3) valid (legal and valuable) consideration. Each party to a contract
acquires rights and duties relative to the rights and duties of the other parties.
However, while all parties may expect a fair benefit from the contract (otherwise
courts may set it aside as inequitable) it does not follow that each party will
benefit to an equal extent.
6. Copyrights
Copyright is a legal term used to describe the rights that creators have over their
literary and artistic works. Works covered by copyright range from books, music,

Tan, Hannah
BSIT701A
paintings, sculpture and films, to computer
advertisements, maps and technical drawings.

TECHNOP
August 9, 2016
programs,

databases,