Intellectual property, also known as "ownership of knowledge", refers to "the exclusive right enjoyed by the obligee according to law on the achievements created by his intellectual labor and the marks and reputations in business activities", which is generally valid only for a limited time. Generally, it includes: copyright, patent right, trademark right, invention right, discovery right and other scientific and technological achievements rights.
All kinds of intellectual creations, such as inventions, designs, literary and artistic works, as well as signs, names and images used in business, can be regarded as intellectual property rights owned by a certain person or organization.
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In essence, intellectual property is an intangible property right, and its object is intellectual achievements or knowledge products, an intangible property or formless spiritual wealth, and a labor achievement created by creative intellectual labor.
Intellectual property, like tangible property such as houses and automobiles, is protected by national laws and has value and use value. The value of some major patents, well-known trademarks or works is much higher than tangible property such as houses and cars.
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