WEEK 5 INTELLECTUAL PROPERTY

 

    It's me again Noven. Today I'll be posting a blog about what I have learned from last week's discussion which is IP (Intellectual Property). So what is IP? Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce. It is an asset that any person can own, sell, or license. It requires protection from theft and unauthorized used. 

       I also learned that IPs and Universities are connected. These connections are important in the sense that students from universities are talented enough to have an invention and it is just right that their property and right is being protected with the law related to IP. The following are the factors:

     1. Inventions developed in the university are confidential information (whether it is basic or applied research)

     2. Commercialization: By granting universities and PRIs the rights to their own IP derived from 

        publicly-financed research, and allowing them to commercialize their results, governments around 

        the world is trying to accelerate the transformation of inventions into industrial processes and products;

     3. Strengthen collaborative ties between universities and industry; attracts more funding; enhanced 

        quality research outputs

    4.Promotions and Incentive system under university IP Policy

        What I have learned is that the advantages of Intellectual Property Rights play a vital role in protecting the designer or creator of the invention. Since intellectual property rights help in providing exclusive rights to creator or inventor thereby induces them to distribute and share information and data instead of keeping it confidential. It also provides legal protection and offers them an incentive for their work. And rights granted under the intellectual property act helps in socio and economic development.

        There are many types of intellectual properties like inventions, discoveries, artwork, and writings. Intellectual property can be stolen; someone can misuse it without permission. Violation of intellectual property rights, also called infringements, can result in a lawsuit or a fine, depending on the type of intellectual property involved.

          That would be all for now. See you, readers, in my next blog.