Question

Indicate which of the following are treated by intellectual property law. Treated by intellectual property law Not treated by intellectual property law Answer Bank; trade secrets, copy rights , patents . control of physical resources, trade marks , deregulation

Answer 1

• Intellectual property refers to the intangible properties that are held by individuaIs or companies like the patents, copy rights, ideas , creation etc.
• Intellectual property law aims at providing protection of these intangible properties at both the federal and state level.
• The following intangible properties are treated by intellectual property law :

1. Trade secrets:- Trade secrets refers to the various patterns, design, process etc that needs to be kept as a secret from other traders to be highly competitive.
2. Copy Rights:- It gives a person an exclusive right to copy and reproduce any work.
3. Patents:- A patent gives an individual an exclusive right to produce, sell or use any good by preventing others from using it.
4. Trade Mark's:- They help in developing reputation of a company and are used to identify and seperate goods of one manufacturer from other.

• The physical resources, deregulations are not treated by this law.