Ownership is the exclusive legal right and control over property. One of the incidences of ownership is the inherent right to quietenjoyment and protection from any form of encumbrance by persons who are not owners or licensed by the owner. The object of ownership, which this right to protection applies to, can either be tangible or intangible assets.
Tangible (or physical) assets are things that can be physically seen and touched, such as land and buildings, while intangible assets are things that do not take physical form, such as goodwill and intellectual property. For the purpose of this publication, protection of intellectual property as a form of intangible asset would be the focal point.
Intellectual property (IP) rights come in various forms, but their unifying feature is that they all protect some aspect of intellectual creative endeavor, be it an inventive concept, an artistic work, aesthetic design or brand identity. This right is provided under Article 27 of the Universal Declaration of Human Rights, 1948, and under national laws of various countries…
