The term Intellectual Property Rights as a concept has evolved over time. To put in plain and simple language, Intellectual Property Rights are rights that are being conferred upon a person as a reward for creating some work whether a scientific or a literary or an artistic one by giving him the exclusive ownership rights over that work for a stipulated time period. There are different kinds of Intellectual Property rights which are categorized on the basis of the nature of such creation.
Intellectual Property law deals with laws to protect and enforce rights of the creators and owners of inventions, writing, music, designs and other works, known as the "intellectual property." There are several areas of intellectual property including copyright, trademarks, patents, and trade secrets.
Following are the types of Intellectual Properties along with the kind and nature of work which they protect:
1. Trademarks - Trademarks are marked that give a business or organization an identity that sets it apart from the rest. For example, the tick mark sign is a trademark of Nike, which keeps Nike products apart from the rest of its competitors. Trademarks can either be registered or unregistered.
2. Copyrights - Copyrights usually provide protection to literary and artistic works. These involve books, paintings, computer programs, films, sculptures, databases, advertisements, technical drawings, and maps, etc.
3. Patents - Patent protection is being awarded to the creator of a scientific invention. A patent gives the creator with the right to determine how or in what manner people can use his innovation. Only after such determination does the creator make information pertaining to his patent available to the public.
4. Industrial Designs - Industrial Designs include protection to any aesthetic or ornamental part of an article. Such a design may include three-dimensional characteristics of the article like its surface or shape etc. In some cases, even two-dimensional characteristics like lines, patterns or shade or color are taken into consideration for the purpose of protection.
5. Geographical Indications - Protection under this category is being afforded to products or goods that provide a sign of belongingness to a particular region of a place because the products bear certain qualities and reputation or standing of belonging to that particular region only and nowhere else. An example of this kind of intellectual property is the Pinggu Peaches belonging to Beijing, China.