Knowing these four IP principles go a long way to achieving fundamental understanding:
1. Intellectual Property is property.
An invention, name or work of creative expression, like a song or design, can have value like any other property that an individual or business may own.
2. IP protections encourage sharing.
Copyrights, trademarks, patents and trade secrets provide value to owners and society. By establishing rules for ownership, they encourage businesses of all sizes and empower creators. IP rights advance both public and private interests.
3. IP infringement has consequences.
IP theft, deliberate or not, threatens jobs and compromises consumer safety. It has been linked to criminal activity and unfair competition. Infringing IP rights is harmful to individuals, businesses and society.