Intellectual Property Rights Protection
Legal Monopolies Granted by Government or Created by Private Action
Government-Granted Monopolies Described: Patents, Copyrights, and Trademarks
Though the three basic forms of government-protected intellectual property—patents, copyrights, and trademarks—differ in their concepts, purposes, and functions, they are alike in the fact that each confers upon its holder the unique right to use, transfer, and profit from the piece of intellectual property that is theirs.
Patents are government grants of monopoly that cover unique and useful discoveries in the sciences and breakthrough advances in the sphere of engineering. The source of the patented concepts is usually research based on physical principles. ...
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