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Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.

Intellectual property rights are like any other property rights, the allow the creator, or owner of a patent, trade mark, or copyright to benefit from his or her own work or investment.

These rights are fundamental as set out in Article 27 of the Universal Declaration of Human Rights:

Everyone has the right to benefit from the protection of moral and material interests resulting from authorship of any scientific, literary or artistic production.

Promoting and protecting creativity by way of a legal framework is key to encouraging expenditure and investment in innovation. In this way the protection of intellectual property through appropriate ordinances and regulations is an important element in the Bailiwicks economic environment.

A sound intellectual property system helps strike a balance between the interests of the innovator and the public interest, providing an environment in which creativity and invention can flourish, to the benefit of all.

Adapted from World Intellectual Property Organization Publication

(WIPO No. 450(E)