Discuss (b) industrial property

The concept: intellectual property = the creations of the MIND given legal ownership (the intangible property's branch: the invention, the work, the mark, the design — the person's mental labour protected as an exclusive right); the logic (the bargain's craft): the limited EXCLUSIVITY in exchange for the DISCLOSURE-and-the diffusion (the creator's incentive + the public's eventual domain (the term's end)); the property's nature (the intangibility (the idea's expression-and-the mark's reputation — not the physical thing (the book's paper vs the work (the bottle vs the mark)))). 1.1.1 Importance of Intellectual Property (1) The innovation's engine (the R&D's financing — the exclusivity's revenue); (2) the brand's-and- goodwill's asset (the marks' marketing's shorthand); (3) the trade's currency (the FDI-and-the technology transfer's security — the foreign investor's IP comfort); (4) the creative economy's livelihood (the music-film-publishing-software's industries); (5) the consumer's protection (the mark's origin-and-quality guarantee — the confusion's prevention); (6) the national competitiveness (the TRIPS-era's development stakes — Nepal's LDC-and-graduation faces); (7) the culture's-and-heritage's preservation (the traditional knowledge's-and-the GIs' worlds — the Nepali stakes (the crafts, the ayurveda, the folk arts)). 1.1.2 Kinds of Intellectual Property (i) Industrial property (the Paris Convention's family): the PATENT (the invention's protection), the TRADEMARK (the mark's protection), the INDUSTRIAL DESIGN (the ornament's protection), the utility models, the GIs, the trade secrets, the semiconductor layout-designs — the industry-and- commerce's IP . (ii) Copyright (the Berne family): the literary-and-artistic works (the writing, the music, the film, the software, the art) + the related/neighbouring rights (the performers, the producers, the broadcasters). (iii) Trademark, design and patent right (the trio's individual craft — Unit 2's detail): the mark (the source's identifier), the design (the article's ornament), the patent (the invention's monopoly) — the three statutory registrations of Nepal's PDT Act world.