Intellectual Property: Patents, Trademarks and Copyright

About Intellectual Property 

The World Intellectual Property Organization (WIPO) defines intellectual property (IP) as creations from mind.  They can include literary and artistic works, designs, and also symbols, names, and images used for business.  WIPO identifies 3 types of IP:

• Patents are an exclusive right granted for inventions. 
• Trademarks are signs, designs or slogans that identify a company, good, or service from those of another. 
• Copyright are the rights granted to creators over their tangible literary or artistic works. 

Patents

A patent is defined as a grant or property right over an invention or work for a set amount of time.  It prevents others from making, using, or selling it.  An inventor (and their colleagues if any are actively involved) can apply for a patent through a national patent agency.  Patents can also be issued by international patent agencies and also for multiple countries.  In the US, the United States Patent and Trade Office (USPTO) is the issuing body, while the European Patent Office (EPO) issues them for participating countries in Europe and elsewhere.

Works that are novel, useful, and nonobvious may be patented.  Perpetual motion devices, abstract ideas, laws of nature, and naturally occurring substances cannot be granted patents.