Tangible and Intellectual Property

Tangible and Intellectual Property

Team B has chosen to select Information Technology (IT) as a point of emphasis for this week’s assignment. The issues we will address are the difference between intellectual and tangible property. There are several actions that managers and business owners should take to protect organization’s property rights, and what they must do to ensure an organization protects others’ intellectual property. It is not only their right, but inherent responsibility to protect their property.

The first challenge we must face is in the description of difference in regards to intellectual and tangible property. Intellectual Property Rights are comprised of five factors: 1) Patents, 2) Copyrights, 3) Trademarks, 4) trade secrets, and 5) Trade and Domain Names. Tangible Property is defined as all real property and physically defined personal property (Cheeseman, 2010).

The IT industry presents several challenges to corporations and businesses, which they encounter on a daily basis in protecting rights and claims to property. The three issues we feel were most important to address were Copyrights, Patents, and Trade/Domain Names. While the industry of information technology finds difficulty in protecting new inventions, it is necessary that those practices remain in place to ensure the rights and security of products. New ideas are ever merging while information flow and access is a continuum as technology continues to move forward. The information age is upon us. The quicker, faster, brighter, and better, we are in constantly improving past inventions and previous milestones, will remain as the forefront for companies in the current market. The world of free enterprise and globalism relies heavily on being the best and being first, consequently, imperative for those to remain protected as new ideas emerge.

A violation of Copyrights is very difficult to prove as we alluded to earlier because we could be talking about a...