What are the different types of intellectual property?

Intellectual property is a type of intangible asset that refers to creations of the mind such as inventions, literary and artistic works, symbols, names, and designs used in commerce. There are several types of intellectual property, including patents, trademarks, copyrights, and trade secrets. A patent grants the owner exclusive rights to an invention for a limited amount of time. Trademarks identify and distinguish a company’s goods and services from its competitors. Copyrights protect original expressions of ideas, such as books, music, and artwork. Trade secrets are confidential information that businesses use to maintain a competitive advantage. Understanding the different types of intellectual property is crucial for individuals and businesses to protect their innovations and ideas.

This mind map was published on 19 April 2023 and has been viewed 50 times.