What is Intellectual Property (IP)? What kinds of tools are used to protect intellectual property? Why...

What is Intellectual Property (IP)? What kinds of tools are used to protect intellectual property? Why are there both good things and bad things about strictly protecting intellectual property? Explain and discuss examples.

Expert Solution

Intellectual Property (IP) is termed as the creation of minds i.e. literary and inventions and all these are used in the commerce domain. There are many tools to protect the intellectual property such as copyrights protects literary long with other artistic works. It has been observed that business firms are using copyright to protect and safeguard all the important documents and other reports. The good side of protecting intellectual property is to enhance the market value products and services in the global market. Its open access to raise the finance of the business firm and increase various other opportunities for the company. The disadvantages of intellectual property are, it might lead to miss the trademarks of the company and there is no legal or formal process while reserving copyrights for the business.

Hayet Jeridi answered 1 year ago

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