1. Intellectual property rights include trade secrets, industrial designs, and semiconductor integrated circuits layout designs.
2. Trade secrets can include formulas, processes, and methods that a company keeps confidential. They do not have an expiration like patents and can potentially last in perpetuity if kept secret.
3. Industrial designs protect the aesthetic or visual appearance of products. They must be registered and generally last up to 15 years. Semiconductor integrated circuits layout designs protect the design of transistors and other elements on computer chips.