OWNERSHIP OF INTELLECTUAL PROPERTY

INTELLECTUAL PROPERTY RIGHTS | OWNERSHIP OF INTELLECTUAL PROPERTY   The Intellectual Property Rights, Ownership of Intellectual Property involves the exclusive rights to use the intellectual property for example the rights to use the invention covered by the grant of patent for a period of time (or) the rights to publish, copy, adapt and perform copyright material (or) to use a particular trademark or design.   The Ownership of Intellectual Property has the rights to sell or transfer, grant licenses or permission to use, donate or use it as security for loans.   The Ownership of Intellectual Property also involves entitlement to registration and also to seek protection of the exclusive rights in the property before the court of law.   The Ownership of Intellectual Property has the ability to exclusively control and direct development and exploitation of the property. It also involves the liabilities that are usually associated with the ownership of any property, including liability to taxation or legal actions in negligence, contractual obligations to protect other parties, registration and maintenance cost etc.           Ownership of Intellectual Property is determined on the following:   Creation of Material: The actual creator, inventors are usually the person who has the initial claim to the intellectual property rights. It cannot be assumed that the person who had the ideas is necessarily the author or inventor or that ideas alone are protected. Creation of material is a starting point in determining ownership. Operation of Agreements:  Ownership can be determined by agreement between the creator and the employer. Employers entitlements: This results the terms and conditions in the contract of employment. Registration: Patents, designs, trademarks and plant breeder's rights require registration of ownership and interest in ownership with respect to the legislation regimes. It is important to determine who has the right to apply for registration. The registered owner is the absolute owner. The registration may be opposed  and once it has been opposed and in the absence of opposition, the registration provides the certainty of ownership. Legislative provisions: Intellectual property contains a number of provisions. Which affect the ownership.

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