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The term "intellectual property" began to be used in the 19th century, though it was not until the late 20th century that intellectual property became commonplace in most of the world's legal systems. [6] Supporters of intellectual property laws often describe their main purpose as encouraging the creation of a wide variety of intellectual ...
According to the labor theory, an individual has a right to the product of their labor, whether physical or intellectual. It is based on the John Locke's labor theory of property which says that persons are entitled to the fruits of their own labor, and by extension, intellectual property can be viewed as the fruits of an individual's mental ...
The English patent system evolved from its early medieval origins into the first modern patent system that recognised intellectual property in order to stimulate invention; this was the crucial legal foundation upon which the Industrial Revolution could emerge and flourish. [14]
A copyright is a type of intellectual property that gives its owner the exclusive legal ... so publications could be bought by poorer people, creating a mass ...
Intellectual property refers to intangible assets such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property rights include copyrights, trademarks, patents, industrial design rights, trade dress, and in some jurisdictions, trade secrets.
A trade secret is a form of intellectual property comprising confidential information that is not generally known or readily ascertainable, derives economic value from its secrecy, and is protected by reasonable efforts to maintain its confidentiality. [1] [2] [3] Well-known examples include the Coca-Cola formula and the recipe for Kentucky ...