Final answer:
Three ways to protect intellectual property are through patents, copyrights, and trademarks. Patents provide exclusive rights to an inventor, while copyrights protect original creative works, and trademarks safeguard unique names or symbols.the hree ways is patents, copyrights, and trademarks.
Step-by-step explanation:
There are several ways individuals or firms can protect their intellectual property:
- Patents: Patents provide the inventor with the exclusive legal right to make, use, or sell their invention for a limited time. This protects their invention from being copied or exploited by others. For example, if a pharmaceutical firm has a patent on a new drug, no other firm can manufacture or sell that drug without permission for the duration of the patent, which is usually 20 years.
- Copyrights: Copyright laws protect original works of literature, music, film/video, and pictures. It grants the author the exclusive legal right over their creation, allowing them to control its reproduction, distribution, and public display. The duration of copyright protection depends on the country, but typically lasts for the author's lifetime plus 70 years.
- Trademarks: Trademarks are used to protect the unique names, logos, or symbols associated with a particular product or service. They help prevent other businesses from using similar marks that may cause confusion among consumers. Trademarks can be renewed indefinitely as long as they are actively used and protected.