Intellectual property is an invaluable asset that encompasses a set of rights that control the ownership and sale of items or any product created through the use of intellect or creativity. It is essential to the economy, as IPT-intensive industries account for 36 percent of U. S. GDP.
Intellectual property disputes can arise in many ways, with infringement being the most common type. If a court determines that an infringement has occurred, the damages that must be paid to the intellectual property owner can be extremely costly. To protect yourself and your business from potential disputes, it is important to understand the different types of intellectual property and how to protect them. One of the most renowned intellectual property disputes was between Isaac Newton and Gottfried Leibniz in the late 17th century. Newton claimed to have first thought of the “science of fluxions”, while Leibniz wrote about it in 1665 and 1666. The two intellectuals accused each other of plagiarism, but historians now accept that they were co-inventors, as they arrived at the idea independently. Intellectual property encompasses any type of artistic work, utilitarian design, logos, geographical indications and other novel creations of this type through which a company can obtain monetary benefits.
Infringement occurs when someone uses intellectual property without legally asking the owner of the property. If you're concerned that someone is infringing on your intellectual property, it is important to take action immediately. If you have intellectual property rights that have been infringed or if you have been accused of infringing on someone else's intellectual property, you can consider hiring an intellectual property lawyer. Don't wait for a dispute to arise to learn about intellectual property issues: take action now to protect your creations and your business. Prosse Chowne is an Alberta law firm that offers services such as conflict resolution, insurance law, intellectual property litigation, and more.
If you need help with an intellectual property dispute, consider hiring an expert such as Corpbiz. It is essential to understand the different types of intellectual property and how to protect them in order to avoid costly disputes. It is also important to take action immediately if you suspect someone is infringing on your intellectual property rights or if you have been accused of infringing on someone else's rights. Hiring an experienced lawyer can help you navigate these complex issues and protect your business.