Intellectual property is divided into two branches:
- Literary and artistic property: this branch encompasses copyright (including software, literary works, etc.) and related rights (for database producers, performers, videograms, and phonograms). Copyright is automatically acquired upon creation of the work.
- Industrial property, which includes patents, trademarks, designs, and models, among others. Here, rights are obtained through registration.
An intellectual property right confers a monopoly for a specific period of time: a maximum of 20 years for a patent, 25 years for a design/model, renewable indefinitely for a trademark (subject to renewal), and up to 70 years after the author’s death for copyright. This constitutes a significant competitive advantage in a constantly evolving market and can contribute to a more favourable valuation of the company.