What's what in finances: Intellectual property

Any works or inventions that are original creative designs. Intellectual property 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 intellectual property system aims to foster an environment in which creativity and innovation can flourish.

Intellectual property refers to creations of the mind: inventions; literary and artistic works; and symbols, names and images used in commerce. It is divided into two categories:

Industrial Property includes patents for trademarks, geographical indications, industrial designs and inventions.

Copyright covers literary works such as plays, poems and novels. Artistic works such as films, music, drawings, paintings, photographs and sculptures.

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