“Intellectual property is a product of the mind”
“The creator of an Intellectual Property, need to have a monopoly.
Because If the creator has no monopoly in the creation,
There is little or no commercial value of it.”
- Overview of the traditional form of Intellectual Property
|Identity||Inventions (Anything,Process,Idea)||Original (Not copied) idea||A word, phrase, sign, symbol, shape, or label|
|What||Not already known (Novel).|
Valuable, Useful to the society.
Fixed in tangible medium.
|Distinctive identifier of the goods and services.|
Used to distinguish your product from others competitive products.
|Difference||Conceived / discovered by the inventor.||Copyright will not protect the idea only the expression.||Unlike copyright or patent, a trademark right is granted only with respect to the specific product claimed by the trademark owner.|
|How Long||For a finite term|
(In Sri Lanka 20 years)
|For a finite term.|
(life of the inventor + 70 years)
|For an indefinite period.|
(Usually 10 years, Subjected to renewal before the term expires)