Rights of intellectual property are those corresponding to authors and other holders (artists, producers, broadcasters, etc.) for works and services fruit creation.
Rights of intellectual property are granted by the State and entitle the holder to prevent anyone to access or make use of their property without their consent.
Subjects of intellectual property rights
For example, according to Spanish legislation, the person who creates a literary, artistic or scientific work is considered an author. The rights apply to all original literary, artistic or scientific creations.
Below, we show examples of intellectual property subjects:
- Interpreter artists or executants.
- Producers of phonograms.
- Producers of audiovisual recordings.
- Broadcasting Entities
- Photo creators
- Protection of certain editorial productions.
Types of intellectual property rights
There are two types of intellectual property rights:
- Moral rights: It is the right to be recognized as the author of a work and to demand that it not be altered. Moral rights are inalienable and inalienable and belong to the author throughout his life.
- Property rights: They refer to the rights to exploit a work and to be compensated when a third party uses it.
Economic logic of intellectual property rights
The intellectual property rights correspond in practice to the granting of a monopoly in favor of the inventor or creator. Indeed, the rights allow the inventor to exclude others from the manufacture or sale of the protected product or process, capturing all income from the sale of the product or service.
Why grant a monopoly? The idea is to encourage new inventions and that these are shared in the future. In order for inventors to remain interested in creating new products, services or processes, they must make a profit from their inventions, that is, their effort must be rewarded.
If there are no property rights, anyone can copy an invention and its authors cannot capture the income that corresponds to it. Intellectual property rights come to solve this problem since the author will obtain monopoly gains for a period of time so that after the expiration of the right, others can copy and exploit his invention.