Creativity, Ideas are intangible assets but when it is implemented and put into a format then it definitely a Tangible one and can be stolen. There are ideas which have done miracles. Hence it is believed that ideas do change lifestyles. But there is no protection for it, then who is getting name and fame for whose idea may be the question arises. Hence to protect these and giving recognition with right for the idea is called as Intellectual Property rights.
In lay man terms, making you the whole owner of the idea by giving rights so that if any one misuses it also, you can sue him. Hence it is to protect your ideas and action formats. The idea may be of any field or segment. But there are some rules and guidelines to follow it.
The IPR can be on the music, literature, Inventions and Ideas, symbols and designs, words, phrases, Industrial designs, and so on for the intangible assets. There different types of IPR which are applicable according to the act and situation.
Those can be Copyright, Trademark, Industrial design rights, Geographical Indication, Patents and Trade secrets. These are applicable according to the situation and nature. For Ex: for the television channels and their programs to protect they get the copyrights. Hence once they are through with the copyright then it means that they are the solely owner of that program or channel and if any case of misuse takes place then they can for legal solution
In the similar way for other assets also IPR works with Trademark, Patents and so on. Each has their Importance for the protection of assets. These are undertaken with the agency of United Nation that is WIPO- world Intellectual Property organization. Hence these laws helped out the ideas and creativity of human being not to go in vain.
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