In: Operations Management
Define and describe in detail the intellectual property, copyright, and pirated software with examples.
Intellectual property can be defined as the intangible property that is the result of creativity. In other words, it is the creations of the mind such as inventions; literary and artistic works; and symbols, names and the images used in commerce. For example a song written by a lyricist or a logo designed by a designer are respectively their intellectual property.
At the same time, copyright is the right to use intellectual property. For example the right to use or re-use the song written by the lyricist is his own. No one can use it unless the lyricist allows another person to use it. The lyricist can sell the copyright of the song to a film director. Now the copyright of the song is vested with the director of the movie.
Piracy can be defined as the unauthorized duplication of copyrighted content that is then sold at lower prices in the market. Piracy is an illegal act. Piracy of a software happens when a person or a company thus sells a software which is developed or sold by another person or company. For example, Photoshop is a software which needs the customer to pay money to use it. A person who has a hacked version of Photoshop can sell it at a cheaper price. This would be a pirated version of Photoshop.
(A Like will be appreciated if you like the answer)