However, laws protecting intellectual property in foreign countries are not as clearly defined, creating problems for American-based companies. Intellectual property law protects a content-creator's interest in her ideas by assigning and enforcing legal rights to produce and control physical instantiations of those ideas. Some property can be both tangible and intangible. ... that have not been recorded in a tangible, ... distinguishes between the physical object and the intellectual creation. Intellectual property laws give owners the exclusive right to profit from a work for a particular limited period. To achieve this, the law gives people and businesses property rights to the information and intellectual goods they create, usually for a Intellectual property law 757 Words | 3 Pages. At my pet-grooming salon, I use a special shampoo that I designed myself. This will require an understanding of tangible and intellectual property in general, plus research about the tangible and intellectual property issues in the selected industry. However, laws protecting intellectual property in foreign countries are not as clearly defined, creating problems for American-based companies. Intellectual properties include patent, copyrights, trademark, trade secrets, and trade and domain names. Unlike tangible assets to your business such as computers or your office, intellectual property is a collection of ideas and concepts. ... intellectual property ... copyright is the law intended to protect a creator's ... are fixed in tangible form. It cleans dog hair, while preventing fleas and ticks, and also smells like orange blossoms. But intellectual property law is extraordinarily complex, so small business owners interested in IP issues should consult a legal expert in order to protect themselves to the full extent of the law. The United States has long been at the forefront of protecting intellectual property for its domestic companies, but the same is not true for many other nations. Intellectual propertypatents, trademarks, copyrights and trade secretsmay be more important to your business than tangible assets. I own Barks and Bubbles. For a pharmaceutical company tangible property can include; land (including air and mineral rights), plants (buildings and research offices), furniture, machinery, automobiles, and supplies. The United States has long been at the forefront of protecting intellectual property for its domestic companies, but the same is not true for many other nations. The United States has long been at the forefront of protecting intellectual property for its domestic companies, but the same is not true for many other nations. "The law on intellectual property is everywhere both comparatively new and in flux," observed The Economist (US). Intellectual Property for a pharmaceutical company is property is created in the mind. The length of the right can vary for patents, but in most cases it lasts for 20 years. For copyrighted material, the exclusive right lasts for 70 years beyond the death of the author. The laws in the United States of America provides property owner rights of protection of their assets (University of Phoenix, 2010). What is your intellectual property and how should you protect it? The main purpose of intellectual property law is to encourage the creation of a wide variety of intellectual goods.