Protection of intellectual property and information rights

Reference no: EM133682333

Question

Protection of intellectual property and information rights will not be a thing of the past. With the digital age in full effect with rapid advancements in technology and AI, laws need to be created or adjusted to account for all the ways intellectual property may be stolen. Patents, copyrights, and trademarks are intended to secure the rights of the individual who created the object or idea. To say these rights will cease to be protected would mean allowing intellectual property theft on a grand scale without repercussions. Large brands such as Pepsi and Nike would cease to have a mark that signifies the quality of their products since any average joe could put their mark on an inferior product and get away with it. It would become harder to sell the real product if there were 100 copycats using the same mark en masse. Transfer of contractual rights can be done through assignment of rights or licensing. Assignment of rights starts with the obligor, the party who owes a duty of performance, and the obligee, the party who is owed performance. The obligee becomes the assignor, transferring the right of receiving performance to the assignee. There are no formalities required for valid assignment of rights but generally the process includes the words sell, transfer, convey, or similar verbiage (Cheeseman pg. 247). Licensing is a contract that transfers limited rights in intellectual property and informational rights. In layman terms this is a contract which allows use of intellec.

Reference no: EM133682333

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