MEM Concessions LLC describes Intellectual property relates to the ability for the creator of an idea or an artefact to have the right to own that “product” and also have some say in what can then be done with it.

Intellectual property can relate to anything from inventions, books, theses, designs or artistic pieces, symbols or logs and many more. IP is protected by law, with acts that safeguard them such as patents, copyright and trademark law. These laws give people the ability to earn money from or protect their work without the risk of someone stealing their concept or idea and claiming it as their own. The intention of the law is to ensure that people get the benefit they deserve from their work and for creativity and inventions to boom.

Copyright is a legal term which gives the creator of the piece of work certain rights over it. It can cover books, films, music, and works of art, databases, adverts drawings and even some maps.

Patents are a similar nature but they are legal rights over inventions. They allow the owner to decide if they will allow the invention to be used by other people. Sometimes an inventor will have gone so far with an invention and they will be happy for people to build on this.

Trademarks is a way that a piece of good or a business will be kept separate from another business. They come from ancient times when artists put their mark on their products to show who they were made by.

Industrial designs are the pictographic part of an article. It may be a three dimensional creation of even a two dimensional pattern.

Geographical indications can also be legally “owned” by their creator. They are signs that are put on products to show where they are from. This can be especially useful for products that are renowned to be from a certain place or are considered a better quality if they are from a particular geographical location.

It is vital that we protect people rights to own their designs and property and inventions. People will not be able to financially spend all of their time and efforts upon their creations if we do not give them a way to do so. We would suffer as a consequence as we would have no new products or innovative advancements. The inventors would have to get nine to five jobs and the advancement of our society would suffer. We may not even have as good quality films or television shows.

This is why we celebrate World Intellectual Property day each year on 26 April. There are magazines, blogs, and award ceremonies all with the aim of raising awareness and supporting the protection of intellectual property. The award ceremony is a glamorous affair which will also showcase your creations or property. It will be a networking event that allows people to share ideas and plan for the future.

So, what is stopping you? Get creating something fabulous today that will ensure that you are remembered and maybe even rich!