World IP Day 2023: Defending Against the On-Going Threat to Intellectual Property

World Intellectual Property Day, celebrated each year on April 26th, is a day to recognize and raise awareness of intellectual property (IP) rights and their importance. Established in 2000 by the World Intellectual Property Organization (WIPO), the date of the holiday commemorates the inauguration of the WIPO Convention in 1970. More than just a chance to draw attention to the significant weight of IP and IP rights in today’s society, World IP Day also provides us the opportunity to discuss how the IP landscape can change for the better. This means addressing iniquity in IP owned and IP rights, as well as spreading the word about protecting your IP against theft.

What is IP?

Intellectual property is a term that covers a lot of ground. IP can mean anything from inventions and names to works of art and literature. There are four types of intellectual property recognized by IP law, each with its own requirements and protections. Patents are the strictest in both areas, having several criteria to qualify and giving the holder exclusive rights over the production, use, and sale of their invention. Copyright protects the holder’s right to copy, modify, and distribute their IP; trade secrets cover the processes and mechanisms used to produce the IP, protecting against theft but not against independent engineering; and trademarks are used to distinguish a brand or product.

Software IP is included in and can be represented by any and all of these types. The code of the software is copyrighted IP, and depending on the kind of software and what it does, it may also be considered a trade secret. A patent or trademark is not necessary to make unauthorized use of the IP illegal, but it may be useful to have that additional documentation to protect your rights to your IP.

Risks of IP Theft

The theft of IP involves stealing patents, copyrights, trademarks, or trade secrets. While it works somewhat differently than the theft of physical property, that doesn’t mean it can’t have weighty consequences all the same. This article has been indexed from Thales CPL Blog Feed