Intellectual Property - What is it?

Intellectual property is often a mist, something that the non-attorney person frequently does not understand. So we ask ourselves, what exactly is intellectual property? After talking to several patent and trademark attorneys, and checking legal dictionaries, I discovered that an excellent definition of intellectual property can be found at the web site of the World Intellectual Property Organization.

According to World Intellectual Property Organization:

"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.

IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish."

Inventors know that only a handful of people know the chemical formula of the popular drink Coca-Cola. By keeping this formula a secret, much money can be saved. Attorneys are not needed. This secrecy of an invention is called a trade secret.

To learn more about intellectual property, take a look of the web site for the United States Patent and Trademark Office (USPTO). 

Visit our Patent and Trademark Resource Center (PTRC), which is located in the Central Library,  to learn more about free workshops offered throughout the year at our Central Library. Guest attorneys lecture at these workshops, thus, offering free legal advice. To see when workshops are offered, check the events link on the PTRC blog or phone our PTRC at (314) 539-0390.