Intellectual property: What is it, What is it for and Why is it Important?
In this article I will explain what intellectual property is, what it is for and why it is important. I will also address the aspects of intellectual property that are indispensable today as useful tools for everyone.
Individuals, legal entities (Corporations, Associations, foundations, Non-profit Organizations, NGOs, etc.) as well as companies should be aware of and give importance of intellectual property. Ignorance of the scope of intellectual property rights has negative consequences, due to the fact that people do not adequately protect many of their assets, which generates problems in the professional, business and academic fields. In some cases, people, not knowing about intellectual property issues, commit infringements against products or materials protected by Intellectual Property rights without even knowing it or being aware of it, with serious consequences. To avoid this, it is necessary to know what Intellectual Property is, what it is for and its importance. In many instances, by not knowing the intellectual property rights, the person can put at risk his intellectual or creative effort, being easy prey for people who benefit from his creations without giving him the credits and much less the possibility of receiving a legitimate remuneration of his own creations.
What is intellectual property?
Intellectual property is the set of legal norms (embodied in laws, agreements and international treaties) adopted in Guatemala, that aim to protect all creations produced by the human intellect, such as literary and artistic works, inventions, images, names and symbols, among others.
What is Intellectual Property for?
Intellectual property serves, in particular, to ensure the protection of the products of human intellect so that they can be used as assets in the marketplace or to protect creation of different kind against unauthorized use. One of the main objectives of the Intellectual Property system is to foster a safe environment in which creativity and innovation can growth in a protected environment.
Why is Intellectual Property important?
Intellectual property rights provide a legal environment that makes it easier for individuals and organizations to protect their creative, research and development activities. It also empowers the rights holder with legal instruments that serve to prevent competitive products, deter potential infringers or persons wishing to misuse them, and thus clear a technological path for future market participation.
Without legal protection of the product of ideas, individuals and companies would not be able to access the full benefits of their creations, their inventions, and would not want to spend much time on creativity or research, because they would not profit from it. However, Intellectual Property establishes the rules and legal processes that are necessary to protect human creativity and at the same time allows the creator to use the product of his creativity as an exchange “value”
Intellectual Property law covers two legal systems: Industrial Property and Copyright and related rights.
Industrial Property.
Industrial property takes a number of forms, namely: patents for inventions, industrial designs (aesthetic creations related to the appearance of industrial products), trademarks or service marks, layout-designs of integrated circuits, trade names and designations and geographical indications, in addition to protection against unfair competition.
In general terms, it can be said that Industrial Property Law protects the following:
- The owner of a trademark or patent has the legal capacity to give the chosen use to his property and with a view to its present or future business exploitation.
- In the case of carrying out the search for profit by the owner, he has a dominant position in the market as the sole owner.
- It allows the temporary assignment of the exploitation of the protected good to a third party, as a license.
- Alternatively, the possession of industrial property rights also implies the following obligations: to complete the procedure in order to obtain a title, payment of government fees or patent fees, once you have your title in Guatemala the term of the protection is 10 years.
The scope of Industrial Property protection extends to:
- Distinctive corporate elements, such as trade names, trademarks, logos, slogans, etc.
- Inventions or industrial creations, among which the role of patents or formulas and compositions of food, beverages or medicines stand out.
- In the field of technology and communications, many examples have appeared, such as web domains or digital content.
To be the owner or holder of trademarks, trade names, logos, slogans, inventions or industrial creations it must be registered in the Intellectual Property Registry.
Copyrights
Copyright applies to literary and artistic creations such as books, musical works, paintings, sculptures, films and works made by technological means such as computer programs and electronic databases.
Copyright basically protects the creator or the rights holder and the product of their creativity (work). The term copyright refers to the act of copying an original work which, with regard to literary and artistic creations, can only be carried out by the author or with his or her authorization.
In Guatemala, works are protected by the act of creation and by their registration in the Intellectual Property Registry.
For more information you can contact me through my email [email protected] or visit our website www.redondo.gt
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