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IntellectualProperty (IP) is a generic term for the range of property rights accorded for the protection of creations of the mind. The term "intellectual property" is defined in Article 2 (viii) of the Convention Establishing the World Intellectual Property Organisation 1967 as including rights in relation to:

  • Literary, artistic and scientific works;
  • Performances of performing artists, sound recordings and broadcasts;
  • Inventions in all fields of human endeavour;
  • Scientific discoveries;
  • Industrial designs;
  • Trade marks, service marks and commercial names and designations;
  • Protection against unfair competition; and
  • All other rights resulting from intellectual activity in the industrial, scientific, literary or artistic fields.

IntellectualProperty rights (IPRs) provide creators and innovators with the exclusive right, for a limited time, to control what others may do with their work. This exclusive right is justified on the grounds that IPRs give creators and innovators an opportunity to make a return on their investment in creativity or innovation, and provide an incentive for creative or innovative activity that might not otherwise take place. The benefits of this additional creativity and innovation are considered to outweigh the costs imposed on society by IPRs.

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