Introduction
If one runs a business or invents something new it is necessary to protect intellectual property in order to succeed in the field. From all of this arises one question: what is exactly intellectual property and which are the ways to protect it? At the first sight, it may seem that it is a merely positive thing but there are some cases in which issues which are concerned with intellectual property become harmful and create problems to other people and the author itself. Thus, the aim of the following essay is to discuss the issue of intellectual property, its definition, state its importance and in which cases it may become a trouble. Moreover, it is necessary to provide some ideas on how to keep balance between the public good and content producers.
The importance of intellectual property
It is an undisputed fact that intellectual property is an important and serious aspect of human rights. However, before the discussion of the importance of intellectual property it is necessary to define what it is. The term intellectual property (IP) means some type of property that has its origin in one’s mind or intellect and an application, right, or registration that is related to it (Webster, 2006). This property may be realized in the form of an idea, invention, or process.
In other words, one’s intellectual property includes and consists of items which were created by him and may be described as unique and bring you an economic profit (Hinson, n.d.). It may include such products of one’s mind as designs, inventions, trade secrets or items originally created by the author.
A new idea one’s intelligence creates that concerns some new and original product or improves the one that exists may be described as invention (Rigby, 2011). As one invented something it is necessary for him to plan some way to support it by means of patent protection.
It is necessary to note that an invention is not only protected by patents if an invention is a very innovative and complicated one. In other words, any invention that embodies a new solution to some technical or other problem may be protected by patent.
It is also necessary to state what patent is itself. The term patent relates to a monopoly right connected to an invention and gives one the right to prevent other people from exploiting it without permission from the author (Rigby, 2011).
But why it is that necessary to protect one’s intellectual property? The importance of it may be explained by the negative consequences which may occur in case one does not protect intellectual properties. The crucial factors of protection are the following:
Prevention of theft
Decreased Risk of Loss of Reputation and Loss of Income:
Prevents Devaluation of Asset
How to Protect Intellectual Property
How one protects the intellectual property is dependent on the type of it. However, when one defends his intellectual property by means of patents and other tactics he also creates the legal conditions which may safeguard one’s ideas and provide one with profit when other companies or people use the product one’s mind (Blum, 2011). Nonetheless, creating an IP defense is a complicated and hard process due to its duration and cost. Blum in his article states that “acquiring even a basic patent can take up to six years, hundreds of hours of work and, according to industry insiders, $7,000 to $15,000 in attorney fees (Blum, 2011)”. Thus, even if one created some invention and wants to protect intellectual rights he may face numerous obstacle on the way to the goal.
Moreover, the understanding of the IP practices which are suitable for one’s product is also crucial for one’s business success. Additionally, the process of IP protection should be started early. It means that one should understand, plan and perform the strategy from the very beginning. If early patenting is the most suitable solution to your problem, there is a necessity to find a patent attorney at the earliest stages.
When IP goes “too far”
However, there are some cases when protection of intellectual property may be harmful and there are numerous examples of it. For instance, intellectual property software industry arises many problems as it is the most valuable part of the majority of physical goods (Reynolds, 2013). While in the case of Blu-ray and other types of discs the use of intellectual property is evident and easily understood (the film is more valuable than the disc itself) software in different devices also plays an important role and is vulnerable to excessive intellectual property protection. Cars, planes, and ships are dependent on software along with its constituent parts. As a result of this, different companies decided to strengthen their protection and nowadays even if one repairs their car by their own the actions may be judged as illegal ones as the software may be encrypted (Reynolds, 2013).
The Balance between the Public Good and Content Producers
Intellectual property law is supposed to promote experimentation, not hold it back. Thus, there must be legislation developed in the way that should not impede other’s comfort and make content producers more powerful and able to dictate their own rules.
References
Blum, J. (2011). How to Protect Your Intellectual Property Rights. Entrepreneur. Retrieved
on January 14, 2017 from https://www.entrepreneur.com/article/220039
Hinson, C. (n.d.). Protecting Your Intellectual Property: How and Why. Retrieved on January
14, 2017 from http://www.alllaw.com/articles/intellectual_property/article5.asp
Reynolds, G.H. (2013). Our Intellectual Property Laws Are Out of Control. Popular
mechanics. Retrieved on January 14, 2017 from http://www.popularmechanics.com/technology/gadgets/a8937/our-intellectual-property-laws-are-out-of-control-15467970/
Rigby, B. (2011). The Real Importance of Protecting Intellectual Property. Business Matters
Magazine (Web), September 2011.
Webster, M. (2006). Merriam-Webster online dictionary.
