Munich Innovation Group is a leading service provider for patent monetization and
IP advisory services.
Intellectual Property Rights
Intellectual property rights are a set of rights given to people over the creations of their minds, according to the World Trade Organization. Without these rights, inventors and creators of new products would have no protection for the fruits of their labor, bringing innovation to a grounding halt. Intellectual property rights usually grant the inventor the exclusive right to his or her creation and its utilization for a period of time.
Different intellectual properties
Intellectual property rights is a very broad term, covering multiple different and distinct types of intellectual labor. Copyright relates to literary and artistic works, such as computer games, books, music and photographs. Copyright literally means the right to reserve the copying of the product to the creator or author and extends at least 50 years after the death of the author. Trademarks are distinct marks, signs or logos that companies use to distinguish themselves and their products from each other. In addition to these company-specific signs, there are marks and signs that are granted only to products originating from a certain geographical area. These signs exist to inform and protect consumers from similar products by other, sometimes incompatible producers. The protection granted by these can last as long as the marks remain distinctive and easy to tell apart.
Patents as Intellectual Property Rights
In addition to these, intellectual property rights extend to inventions and industrial designs. These are protected by patents, international conventions covering new innovations and protecting investment in new technologies. In force for 20 years, they prevent any unlicensed use of the invention by any third party, thus ensuring that the inventor has the chance to make use of and recoup his investment in the technology.
Intellectual property rights usually grant the inventor the exclusive right to his or her creation and its utilization for a period of time.Patents in particular are a thriving commodity in today’s intellectual marketplace. Developed, licensed and sold in large numbers, they enable the continuous improvement of technology and methods, thus being a driving force in the economy more so than any other intellectual property.
How can Munich Innovation Group help you?
Intellectual property rights are transferable and in fact the buying, selling and licensing of intellectual property is a growing business. Munich Innovation Group has extensive experience with the commercial aspects of intellectual property rights.
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