OverviewIn general terms, intellectual property is any product of the human intellect that the law protects from unauthorized use by others. The ownership of intellectual property inherently creates a limited monopoly in the protected property. Intellectual property is traditionally comprised of four categories: patent, copyright, trademark, and trade secrets. Show
Common LawCommon law did not recognize intellectual property rights. Justice Brandeis communicated this belief in his dissent to International News Service v. Associated Press:"The general rule of law is, that the noblest of human productions—knowledge, truths ascertained, conceptions, and ideas—become, after voluntary communication to others, as free as the air to common use." Modern Intellectual Property RightsThe products of the human intellect that comprise the subject matter of intellectual property are typically characterized as non-rivalrous public goods. Essentially, this means that the same product may be used simultaneously by more than one person without diminishing the availability of that product for use by others. The law of intellectual property can be seen as analogous to the law of tangible property in that both consist of a bundle of rights conferred upon the property owner. However, the law of intellectual property is separate and distinct from the law of tangible property. Where the right of exclusive possession is at the core of the bundle of rights protecting real and personal property, land and chattels, the same can not be said of intellectual property. The law of intellectual property is commonly understood as providing an incentive to authors and inventors to produce works for the benefit of the public by regulating the public's use of such works in order to ensure that authors and inventors are compensated for their efforts. Congress derives its power to regulate patents and copyrights from the "intellectual property clause" of the Constitution. See U.S. Constitution, Article I, Section 8. Congress' power to regulate trademarks is constitutionally grounded in the Commerce Clause. The U.S. Patent and Trademark Office (PTO) is responsible for issuing and monitoring federally registered patents and trademarks. Although patents are exclusively governed by federal law, trademarks may also be regulated by State law. Copyrights are exclusively regulated by federal law and must be registered with the U.S. Copyright Office to be enforceable. Trade secrets are primarily regulated at the State level, and are traditionally subject to the laws of unfair competition. DesignsUnless expressed explicitly via state statute, designs are not protected as intellectual property. Related termsSee also:
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Signed in but can't access contentOxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian. Institutional account managementFor librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more. What is the right of ownership?Primary tabs. Ownership is the legal right to use, possess, and give away a thing. Ownership can be tangible such as personal property and land, or it can be of intangible things such as intellectual property rights.
What are property rights?What Are Property Rights? Property rights define the theoretical and legal ownership of resources and how they can be used. These resources can be both tangible or intangible and can be owned by individuals, businesses, and governments.
What is not personal property?It is defined as everything that is not real property, such as your clothes, furniture, cars, boats, and any other movable items that aren't attached to real estate.
Which of the following is considered to be personal property?Everything you own, aside from real property, is considered personal property. This includes material goods such as all of your clothing, any jewelry, all of your household goods and furnishings, and anything else that is movable and not permanently attached to a fixed location such as your home.
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