Question

What legal mechanisms protect intellectual property?

Short answer

The legal mechanisms that protect intellectual property are:

(i) Copyright

(ii) Trademark

(iii) Patent

(iv) Trade secrets.

Step-by-step solution

Step 1. Meaning of intellectual property.

Intellectual property is ownership over ideas, images, or concepts that grant the creator of original work exclusive rights for its use and distribution.

Step 2. Legal mechanisms for Intellectual Property.

The legal mechanisms that protect intellectual property are:

(i) Patents: A government rule that gives the inventor the exclusive legal right to make, use, or sell the invention for a limited time.

(ii) Copyrights: A form of legal protection to prevent copying, for commercial purposes, original works of authorship,

including books and music.

(iii) Trademarks: An identifying symbol or name for a particular good and can only be used by the firm that registered that

trademark.

(iv) Trade secrets: The manufacturing firm's production methods are kept a secret.