Intellectual Property (IP)

Types of Intellectual Property:

1. Copyright – Protects original literary, artistic, and musical works (e.g., books, films, music).

2. Patents – Grants exclusive rights to inventors for new inventions (e.g., machines, processes).

3. Trademarks – Protects brand names, logos, and slogans (e.g., Nike's swoosh logo).

4. Trade Secrets – Covers confidential business information (e.g., Coca-Cola's secret recipe).

5. Industrial Designs – Protects the visual appearance of products (e.g., unique smartphone designs).

Why is IP Important?

• Encourages innovation by protecting creators’ rights

• Provides a competitive advantage in the market

• Helps monetize ideas and creations through licensing or sales

• Prevents unauthorized use and counterfeiting