When a customer purchases a pre- installed software from a PC provider (let’s say from an authorized distributor) then that Operating System package license is called as Original Equipment Manufacturer (OEM) license. The OEM license is specific to a particular machine on which it is installed by the PC provider. Therefore, this type of licensed version of software cannot be installed on other machine by a third person.
Intellectual Property is the Property, which has been created by exercise of Intellectual Faculty. It is the result of persons Intellectual Activities.
Thus Intellectual Property refers to creation of mind such as inventions, designs for industrial articles, literary, artistic work, symbols which are ultimately used in commerce. Intellectual Property rights allow the creators or owners to have the benefits from their works when these are exploited commercially.
These rights are statutory rights governed in accordance with the provisions of corresponding legislations. Intellectual Property rights reward creativity & human endeavor which fuel the progress of humankind. The intellectual property is classified into seven categories –
(2) Industrial Design
(3) Trade Marks
(5) Geographical Indications
(6) Lay out designs of integrated circuits
(7) Protection of undisclosed information/Trade Secret according to TRIPs agreements.