Critical Analysis of Intellectual Property Rights

Intellectual property is an idea, a design and invention of manuscript etc. which can ultimately give rise to useful product and application. The right of an inventor to derive economic benefits from his intellectual property is called as Intellectual property rights. They are intangible assets which helps in protecting the ownership and originality of the individual’s creation. There are intellectual property shields like patent, trademark, copyright, and trade secrets. There is a range of country specific guides to help one protect and manage their intellectual property which was produced by the UK intellectual property office (IPO). The issues that might be faced with IP infringement, how to deal with it and where to find sources for further help are described in it. A list of all national IP offices and a range of services for business looking to protect their IP internationally is provided by the World Intellectual Property Organization (WIPO). Intellectual property rights are territorial. This means that a specific country registered rights do not give one protection in other countries. If someone is thinking about trading abroad then they should have registration of IP rights abroad. There are so many international laws that has been created with many rules, regulations and recommendations to protect the intellectual property yet it remains and important problem and a future challenge for both developed and developing counties. International intellectual property has become an important and frequently declared areas. It is a patch work area of intersecting multilateral and bilateral agreements. This paper aims to elaborate the concept of intellectual property rights and to comparatively analyze the intellectual property laws between UK, USA, China, India and South Korea.