1.1Meaning#
In brief
Intellectual property (IP) refers to creations of the human intellect to which the law grants exclusive, time-bound (or, in some cases, renewable) rights that allow the…
Intellectual property (IP) refers to creations of the human intellect to which the law grants exclusive, time-bound (or, in some cases, renewable) rights that allow the creator or owner to exclude others from exploiting the creation without permission. The property is intangible (incorporeal): the right is not in the physical object but in the idea-expression, invention, mark or know-how embodied in it. Buying a book gives you ownership of the copy, not the copyright; buying a patented machine does not give you the patent.
The classic definition is in Article 2(viii) of the WIPO Convention 1967, which lists IP as rights relating to: literary, artistic and scientific works; performances of performing artists, phonograms and broadcasts; inventions in all fields of human endeavour; scientific discoveries; industrial designs; trademarks, service marks and commercial names and designations; protection against unfair competition; and all other rights resulting from intellectual activity in the industrial, scientific, literary or artistic fields.