Intellectual Property Law Advocates
What is Intellectual Property?
Intellectual Property refers to assets which are intangible, making them easily susceptible to exploitation by third parties, which were created through human intellect. It is crucial for intellectual property to be protected legally in order to restrict the usage of what is rightfully that of the inventor or creator.
Intellectual Property Law is centred in legislation pertaining to patents, trademarks, registered designs, copyright and unlawful competition (passing-off of trade secrets). It extends to litigation, licensing and franchising.
The other main purpose of Intellectual Property law is to encourage the creation of intellectual goods. By giving people and businesses property rights to what they create, the desire to innovate is stimulated through economic incentives due to the fact that they have the right to profit exclusively from their inventions and ideas.