Defineintellectual property. List and describe four categories of intellectual property covered in the text.

Question

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Answer 1

Intellectual property consists of the products that result from intellectual, creative processes.Intellectual property includes creative work such as inventions, artistic works, and literary works. The four categories of intellectual property covered in the text are:•Patents-A patent is a grant from the federal government that gives an inventor the exclusive right or privilege to make, use, or sell the invention for a limited time period.•Trademarks-A trademark is a distinctive mark, motto, device, or emblem that a manufacturer stamps, prints, or otherwise affixes to the goods it produces so that those goods can be distinguished from the goods of other manufacturers and merchants.•Copyright-A copyright gives the creator of a work the right to the exclusive use of that work for a given period of time.•Trade secrets-A trade secret is a business process or information that cannot be copyrighted, patented, or trademarked but that makes a company unique and would have value to a competitor. Trade secrets include such things as customer lists, plans, research and development, and pricing information.