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CHAPTER 9INTELLECTUAL PROPERTYINTELLECTUAL PROPERTY RIGHTSIntellectual property rights are intangible,exclusivity rights which provide their ownerslegal remedies to stop others from exploitingthe fruits of their intellectual labour withoutpermission inside a particular jurisdiction.They were created by governmentlegislation to advance societal interests incultural knowledge and science whilecompensating creators for their creativityand productivity. Unlike land or physicalproperty, they cannot be seen or held inone’s hands. However, they are often a veryvaluable asset and care must be taken toensure that their value is both maximizedand protected.Most intellectual property rights (includingpatents, registered trade-marks andcopyright) are created by statute; they existas a result of legislation which both definesand limits the scope of protection affordedto the intellectual property right. Copyright,Intellectual Property 76