Intellectual Property Definition Change

Summary

The repeal of the definition of intellectual property from the PPS Act means that IP will now be interpreted based on general law rather than the specific definition previously in the PPS Act. This change can affect how IP is classified and treated in secured transactions, potentially leading to more reliance on case law and existing legal principles. The previous definition specifically included rights in design, patent, trademark, copyright, circuit layout, and plant breeders rights, whereas the general law interpretation will be broader, based on existing legal principles and case law.

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The repeal of the definition of ‘intellectual property’ from the PPS Act means that IP will now be interpreted based on general law rather than the specific definition previously in the PPS Act. This change can affect how IP is classified and treated in secured transactions, potentially leading to more reliance on case law and existing legal principles.
- Previous Definition: Specifically included rights in design, patent, trade mark, copyright, circuit layout, and plant breeder's rights.
- General Law: Broader interpretation based on existing legal principles and case law.
Is there a particular area of intellectual property you're concerned about under this new interpretation?