OVERVIEW OF THE IP SYSTEM
The intellectual property (IP) system relates to rights and obligations, as well as privileges and incentives--all rooted from the creation and protection of IP, which “refers to creations of the mind: inventions; literary and artistic works; and symbols, names, and images used in commerce.”
IP rights as basic human rights involve “the right to benefit from the protection of moral and material interests resulting from authorship of scientific, literary, or artistic productions.” (Art. 27, Universal Declaration of Human Rights). Meanwhile, the 1987 Philippine Constitution mandates their protection “particularly when beneficial to the people”. (Art. XIV, Sec. 13) In the midst of these seemingly conflicting interests of the creators and innovators and the public, the system seeks to strike a balance between them through legal safeguards.
Otherwise put, the system seeks to provide an environment in which everyone benefits from one’s creativity ad innovation, especially since IP is a tool for economic and socio-cultural development.
WHY PROMOTE AND PROTECT IP?
There are several compelling reasons. First, the progress and well-being of humanity rest on its capacity to create and invent new works in the areas of technology and culture. Second, the legal protection of new creations encourages the commitment of additional resources for further innovation. Third, the promotion and protection of intellectual property spurs economic growth, creates new jobs and industries, and enhances the quality and enjoyment of life. -WIPO Publication 450