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.
Inventors and creators enjoy exclusive rights to the intellectual property rights in the fields of science and technology, literature and art. Its scope includes patents, trademarks, copyrights and related rights, integrated circuit layout design, geographical indications, new plant varieties, trade secrets, traditional knowledge, genetic resources and folk literature and art, etc.
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Intellectual property rights provide legal protection for the rights and interests of people who have completed intellectual achievements, and mobilize people's enthusiasm and creativity in scientific and technological research and literary and artistic works.
Intellectual property provides a legal mechanism for the popularization, application and dissemination of intellectual achievements, and transforms intellectual achievements into productive forces and applies them to production and construction, resulting in huge economic and social benefits.
Intellectual property rights provide legal norms for international economic, technological, trade and cultural and artistic exchanges, and promote the progress of human civilization and economic development. As an important part of modern civil and commercial law, the legal system of intellectual property rights is of great significance to perfecting China's legal system and building a country ruled by law.