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Intellectual Property and Intellectual Property Law

Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.

History
Intellectual property law dates at least as far back as medieval Europe. In those times, “guilds,” or associations of artisans in a particular industry, were granted authority by the governments to control the regulation and conduct of the various industries. These guilds exercised control over what items could be imported, marketed and produced and the manner in which new inventions, devices and procedures could be introduced to the stream of commerce. Because the authorities for these guilds were given by the governments, and because they concentrated the power to regulate an industry in a select few, and were not earned by innovation, skill or creativity, these guilds did far more to stifle creativity and invention than to encourage it.

Intellectual property law at that time was driven not by an interest in creation and innovation, but rather by political and religious motivations. For example, the 1556 establishment of the Stationers’ Company’s monopoly in England was largely intended to help limit the Protestant Reformation movement's power. By putting the entire printing industry in the control of this company, the government and church could prevent the dissemination of ideas.