IP Laws in Tech

At present the valuable assets of the high-technology companies are Intellectual property rights. The IPRs are non tangible assets like copyrights, rights in layout designs of integrated circuits, patents, neighboring rights etc. The rights of authors of literary and artistic works are protected by the copyright even death of the author.  Books, musical compositions, paintings, sculpture, computer programs and films are covered and copyright. Neighboring rights like actors, singers and musicians also protected through copyrights.  The purpose of the protection is to encourage and to reward the created work.

The IPRs serve important functions in high technology industries and allows developing in products or services. As the creativity belongs to copyright, protection of copyrights through copyright law encourage the U.S.Computer software industry to grow more rapidly. The development of new products in U.S.market and protection of trademarks or other IPRs gives more confidence to the U.S.companies to develop themselves.  The strong trademark protection and reputation of companies also advantageous to the consumers from use of unsafe products of other producers.

The technology based firms rely on IPR protection in order to maintain their market share.  Particularly, the IPR is more important to technology companies as the product development cost become higher than the earlier days. At this juncture, if such high technology products are copies by other companies, huge losses are expected to high technology companies. Hence IPR protection is more important to technology based companies.  Besides, the major component in U.S.economy is technology trade and the trade is dependable on strong IPR protection.