Write short note on Intellectual property right

Q. Write short note on Intellectual property right.
Q. 'A' leaves a cow in the custody of B to be taken care of. The cow gives birth to a calf. Who will take the calf and why?

Answer:

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

Intellectual Property (IP) is divided into two categories:

1. Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and
2. Copyright, which includes literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs. Rights related to copyright include those of performing artists in their performances, producers of phonographs in their recordings, and those of broadcasters in their radio and television programs.

Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property rights include copyright, trademarks, patents, industrial design rights and in some jurisdictions trade secrets.

A leaves a cow in the custody of B to be taken care of. The cow gives birth to a calf. Who will take the calf and why? 

If A has given the cow to B only for custody to take care of (may be in his absence), then A continues to be the owner of the cow, as he has not sold it to B. 

Hence A will get the cow back from B along with the calf. This is just like giving your own flat on rent to a lessee who does not get ownership rights over the flat but only possesses it for a fee. B is just an employee of A therefore the cow does not belong to him.