Intellectual Property and its Protection

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Intellectual properties are creations of the mind. They sometimes include artistic works, names, and logos that are used by a company or business. These types of properties require legal protections to prevent the unauthorized use by other businesses.
There are three main intellectual property protections by the way of Trademarks, Copyrights, and Patents ("Intellectual Property Enforcement," 2022). Innovators and inventors have the right to protect their thoughts and ideas that manifest into reality. Without these protections, their intellectual works are at a greater risk of unauthorized use to benefit other businesses. Innovation requires that credit is given where it is due. Innovators can also guide and foster other innovations and inventions within the company that branch off the original idea.
The most common infringement of intellectual property is the unauthorized use of logos and images by a business. There are hundreds of occurrences by smaller businesses that the public hardly ever catches wind of. One of the largest infringement cases was between Adidas America Inc. and Payless Shoesource Inc. Adidas claimed that Payless provided one of Adidas shoes to China to replicate the shoe using a two and four stripe design. The design was a direct correlation to Adidas' patented three stripe design. The court ruled in favor for Adidas and awarded them over $300 million. Without intellectual property protections, Payless would benefit from the $400 million in revenue from the sell of approximately 30 million shoes.
Intellectual Property Enforcement. (2022). https://www(dot)state(dot)gov/intellectual-property-enforcement/#:~:text=The%20three%20main%20areas%20of,Trademarks%2C%20Patents%2C%20and%20Copyrights.