For those of you who are largely unfamiliar with the concept of Intellectual Property, you needn’t be perturbed. After all, the concept is relatively new and the first ever conceptualization of the term happened to be in the 19th Century. Even then, the concept was discussed only in very restricted, elite circles in a certain part of the globe. More than a century ahead, with the coming of the 20th century and the era of globalization that we have been witness to in the late 20th century, the concept of Intellectual Property and Intellectual Property Rights have triggered a lot of discussions. We have come to a point today when this concept affects people far and wide, and is not really restricted to the intelligentsia of society.
What is Intellectual Property?
The most appt current definition of Intellectual Property (short for IP) would be any substantial creation of the mind that warrants one to safeguard it against ‘creativity theft’ for the purpose of encouraging an environment wherein innovative thinking, inventions and creation are encouraged. Intellectual Property is not just restricted to a few fields, but covers all possible realms such as Science, Commerce/Industry, Technology, Art, Literature, Music, Healthcare, Writing, and so on. The more you imagine, the wider the boundaries of Intellectual Property become. The biggest complexity with the issue of ratifying, precisely describing or laying the boundaries of intellectual property is that there is mostly no tangibility involved in thought processes. To a certain extent, one can lay a tab on thinkers taking ‘creative liberties’ but beyond a certain point, it gets difficult to draw the line between ‘similar creative thinking’ and ‘actual intellectual property’ infringement.