• Intellectual property (IP) is any creative work or invention considered to be the property of its creator. Often, intellectual property rights are recognized and protected under the corresponding fields of law.
• Under intellectual property law, owners are granted certain exclusive rights, such as the ability to publish to various markets, license the manufacture and distribution of inventions, and sue in case of unlawful or deceptive copying
Why promote and protect intellectual property? There are several compelling reasons.First, the progress and well-being of humanity rest on its capacity to create and invent new works in the areas of technology and culture. Second, the legal protection of new creations encourages the commitment of additional resources for further innovation. Third, the promotion and protection of intellectual property spurs economic growth, creates new jobs and industries, and enhances the quality and enjoyment of life.
Common types of intellectual property rights
• Copyright is a legal concept, enacted by most governments, giving the creator of an original work exclusive rights to it, usually for a limited time. Generally, it is "the right to copy", but also gives the copyright holder the right to be credited for the work, to determine who may adapt the work to other forms, who may perform the work, who may financially benefit from it, and other related rights.
• A trademark, trade mark, or trade- mark is a distinctive sign or indicator used by an individual, business organization, or other legal entity to identify for consumers that the products or services on or with which the trademark appears originate from a unique source, designated for a specific market, and to distinguish its products or services from those of other entities.
• A trademark may be designated by the following symbols:• ™ (for an unregistered trade mark, that is, a mark used to promote or brand goods)• ℠ (for an unregistered service mark, that is, a mark used to promote or brand services)• ® (for a registered trademark)
• A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention.• The procedure for granting patents, the requirements placed on the patentee, and the extent of the exclusive rights vary widely between countries according to national laws and international agreements.
• An industrial design right is an intellectual property right that protects the visual design of objects that are not purely utilitarian. An industrial design consists of the creation of a shape, configuration or composition of pattern or color, or combination of pattern and color in three dimensional form containing aesthetic value. An industrial design can be a two- or three-dimensional pattern used to produce a product, industrial commodity or handicraft.
• A trade secret is a formula, practice, process, de sign, instrument, pattern, or compilation of information which is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.
Objectives• The stated objective of most intellectual property law (with the exception of trademarks) is to "Promote progress." By exchanging limited exclusive rights for disclosure of inventions and creative works, society and the patentee/copyright owner mutually benefit, and an incentive is created for inventors and authors to create and disclose their work.
• .Some commentators have noted that the objective of intellectual property legislators and those who support its implementation appears to be "absolute protection’’.
Republic of the Philippines Congress of the Philippines Metro Manila Tenth Congress Republic Act No. 8293 June 6, 1997• AN ACT PRESCRIBING THE INTELLECTUAL PROPERTY CODE AND ESTABLISHING THE INTELLECTUAL PROPERTY OFFICE, PROVIDING FOR ITS POWERS AND FUNCTIONS, AND FOR OTHER PURPOSES• Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
• THE INTELLECTUAL PROPERTY OFFICE• Section 1. Title. - This Act shall be known as the "Intellectual Property Code of the Philippines."• Section 2. Declaration of State Policy. - The State recognizes that an effective intellectual and industrial property system is vital to the development of domestic and creative activity, facilitates transfer of technology, attracts foreign investments, and ensures market access for our products. It shall protect and secure the exclusive rights of scientists, inventors, artists and other gifted citizens to their intellectual property and creations, particularly when beneficial to the people, for such periods as provided in this Act.
• Section 3. International Conventions and Reciprocity. - Any person who is a national or who is domiciled or has a real and effective industrial establishment in a country which is a party to any convention, treaty or agreement relating to intellectual property rights or the repression of unfair competition, to which the Philippines is also a party, or extends reciprocal rights to nationals of the Philippines by law, shall be entitled to benefits to the extent necessary to give effect to any provision of such convention, treaty or reciprocal law, in addition to the rights to which any owner of an intellectual property right is otherwise entitled by this Act. (n)
• Section 4. Definitions. - 4.1. The term "intellectual property rights" consists of:• a) Copyright and Related Rights;• b) Trademarks and Service Marks;• c) Geographic Indications;• d) Industrial Designs;• e) Patents;• f) Layout-Designs (Topographies) of Integrated Circuits; and• g) Protection of Undisclosed Information (n, TRIPS).