Intellectual property is a group of legal rights that are given to people that create or invent things. Trademarks are words, phrases, symbols or design that distinguish and identifies a source of goods or services. Property laws protect patents, trademarks, copyrights and trade secrets. Property law has its origins within the Constitution of the United States. What this means is that a person has exclusive ownership and use of their inventions and they should receive monetary rewards when they give permission to others for using their ideas. Intellectual property law within the United States operates on two principals that include financially rewarding a creator by giving them exclusive rights to their work and by promoting the free flow of ideas to facilitate other creations. The constitution tries to balance freedom of speech and ownership of ideas and creations. One way that intellectual law accomplishes this balance is by providing a term limit for patents which typic ally end in 20 years before others are allowed to freely use the creation. Copyrighted materials have extended terms of protection that last the life of the author plus 50 years. Trade secrets that are used in business are constantly protected under intellectual property law. Trademarks do not expire like patents and can last forever as long as they are being renewed for use in business. Companies, businesses and individuals that use trademarks must make sure that no one else is using the same words, phrases, symbols or designs that they intend to acquire. Businesses are expected to make periodic filings for their registered trademark and they must control the licensing and policing of their mark. Companies, businesses and individuals who apply for a trademark must have completed all of the necessary steps in order to obtain a legal trademark within the United States. These steps involve selecting the proper basis for a trademark, searching the USPTO database to determine if the proposed trademark is being used, filing the application and paying the required fees that are associated with the filing process. The United States Patent and Trademark Office (USPTO) provide intellectual property protection for creators within America. Legally, the U.S. cannot extend intellectual property protection to the outside world because each country has its own set of unique laws and regulations regarding this matter. Creators will have to apply to each territory where they seek to protect their work. The Intellectual Property Protection and Courts Amendments Act of 2004 outlines federal laws and regulations pertaining to intellectual property.
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