Intellectual Property (IP):
The right type of intellectual property protection can help to stop people stealing or copying others work such as the label of the brand/product, the invention, designs or literature that is produced.
Copyright and branding are types of Intellectual property protection. These are very important as they protect the image of the e.g. company.
Copyright is the legal term, used to describe the rights the creator has to their work. It may also be available for things such as titles or logos, depending on whether the company contain sufficient authorisation to claim what they are trying to copyright. Its aim is to balance the interests of people who create the content, along with the public interest in having a wide range of access to that content.
Copyrights gives you two types of rights:
- economic rights – allows the rights owner to claim money from the usage of their work/s by others
- moral rights – protect non-economic interests of the author
A brand is the face of any business, not just the logo, and can symbolise the companys ideals – what it represents and what its offering. As well as the confirmation that the product of the brand will accumulate customer satisfaction.
In formula 1, brands like Ferrari have a claim on their logo, name and things they have created e.g. their sports cars. It is a popular brand that is widely popular and known around the world. Their colours represent Italy with the red, yellow and green.