Intellectual property refers to intangible property or assets that one’s mind or one‘s intellect creates. It refers to works of art, designs, symbols, images, names, songs, which may be used commercially.
There are various types of intellectual property, however the most recognized ones include:
Copyright in literary and artistic work refers to rights that creators or authors have over their literary or artistic works. These works include books, music, paintings, sculpture, and films, to computer programs, databases, drawings, etc.
When your work is copyrighted, there are basically two basic rights you enjoy by virtue of that copyright viz:
A copyright owner can receive remunerations from the management of his copyright which subsists in his creative works by the following means:-
Collective management is simply a situation where authors and creators of works form an organization to advance the cause of protection of the ownership and proprietary interest engage CMOs (collective management Organizations) to manage the usage of their copyrighted works by other persons; The CMOs facilitate the usage of the rights in the interest of both parties and ensure economic reward for rights holders. In real sense it is physically impossible to be in different places at the same time; in the same vein artists creators and authors of work may not be able to track down or know every person that is using their copyrighted works, this is where the CMOs come in, they are in charge of monitoring the usage of this works, they negotiate between the owner and user; they in turn license the usage and then collect fees from the users and turn it over to the owners of the work. Basically, the CMOs act as the middle men between owners of copyrighted materials and users of such copyrighted works. They ensure that the owner does not lose his economic right on his copyrighted works. Licensing
Your ideas, innovations, etc. cannot be copyrighted unless they are reduced to written works, artistic works, and then can they be copyrighted