In: Economics
Research and discuss at least one intellectual property case. Who was involved? What was the outcome?
Intellectual property rights enable people to earn recognition or financial benefits from what they invent or create. for example patents, copyrights, and trademarks. One of the intellectual property rights is Copyright or an author's right where the creators have the legal rights over their literary and artistic works.
Copyright protection extends only to expressions and not to ideas, procedures or methods of operations. Copyrights may or may not be available for a number of objects like slogans, logos etc depending on the authorship.
There are two types of rights under copyrights; one is economic rights where the owner of the rights derive rewards from use of his work by others and second is moral rights which protect non-economic interests of the owner.
For example use of effective IP system allows museums to meet international standards of best practices and offer significant opportunities to leverage their uniqueness, goodwill expertise to generate a return on investment.