Every April 26, we mark World Intellectual Property Day to learn more about the role that intellectual property (IP) rights play in encouraging innovation and creativity. It’s the day the United States Patent and Trademark Office (USPTO) sponsors a celebration of World Intellectual Property Day on Capitol Hill.
Laws protecting creative intangible creative products give people and businesses property rights to the information and intellectual goods they create.
You know what it is to steal someone’s tangible property such as a car or money. Did you know it’s against the law to take someone’s intangible property such as a song, story, image, or artwork? Imagine you write the song that you performed to a group of friends. One of them records the song and publishes it without giving you credit. They could be guilty of stealing your intellectual property.
Protecting intellectual property rights is difficult. Unlike traditional property, intellectual property is indivisible – an unlimited number of people can “consume” an intellectual good without it being depleted. While a landowner can surround their land with a robust fence and hire armed guards to protect it, a producer of information or an intellectual good can usually do very little to stop their first buyer from replicating it and selling it at a lower price.
One of the most famous intellectual property disputes was in 2000 between the rock band Metallica and the music-sharing website called Napster.
World Intellectual Property Day 2021 shines a light on the critical role of small and medium-sized enterprises (SMEs) in the economy and how they can use intellectual property (IP) rights to build stronger, more competitive and resilient businesses.
Theme 2021: Intellectual Property & Small Business: Taking big ideas to market.
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