INTELLECTUAL PROPERTY AND INTELLECTUAL PROPERTY RIGHTS
So what are the Intellectual property and Intellectual property rights, based on the video that I’ve watched which are the lecture 3-4. I learned that Intellectual property is sub to be a creation of the mind. These creations could be inventions, literary and artistic works, or could be symbols, names, images, and designs. These ideas will be transformed into tangible products. The importance of intellectual property it's just like owning a place of land, your intellectual property has a value. It can be monetized , can be transferred , also you can exclude others by using that property, you can regulate and of course you can take ownership. By registering or protecting your intellectual property you can prevent your competitors from copying your trademark, technology or product, avoid wasteful investment in Research & Development and Marketing because you can avoid by investing a lot of money in research if such a product is already registered, you can also create and enhance corporate identity and increase the company's market value and you can facilitate negotiations of licensing, franchising or other IP-based agreements. Ma’am Dumancas also lectures on the Intellectual property cycle, it starts with the creation and then protection when you're done thinking something new, you need to protect it to IPOP by registering and when you receive certificate of registration you need to utilize it for commercialization and you enforce, the enforcement of protection. The intellectual property has rights which are the trademark and service marks, geographic indications, patents, utility models, industrial designs, lay-out designs, undisclosed information and copyright and related rights. I also learned that CMU helped those people, especially students who want to start their small business which is the Musuan Peak Incubator.
