How Would Intellectual Property Impact The Local Community ?
In the local community, for a layman, the word intellectual property may not carry importance to that extent. Most people may not even be aware of the word intellectual property since they do not need to deal with it on a daily basis.
However, every time we buy a product for which the ownership is not specified, we may be putting ourselves in danger. For example, if you buy a music CD on the Internet, you have to ensure that it is not a pirated copy. You may buy it unsuspectingly but someone, who is not authorized to sell it, can be selling it to you. In the end you are also violating the copyright laws.
Most people trading on the internet do not bother to check if they are buying legal copies of the product. This happens with e-Books and software programs. Downloading any kind of software from an unauthorized website is a copyright infringement. People may fall for the low prices and think it is legal to buy. There are several misconceptions about how business is conducted using intellectual property.
Unlike tangible products, intellectual property is very difficult to identify. It is just like buying stolen goods. If a certain intangible product has been copyrighted or patented, then it is the intellectual property of that company or individual. So, when buying stuff on the website, one has to check the legalities and terms and conditions attached to it. If the document or file does not carry anything with it, then it is possible that it can be stolen.
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