Property Law

Property Law-Question 2

Business activities such as buying, selling property, and publishing new piece of art work ect, are waved in people's everyday life. (Wilson T,2008)The word "Property" dated from The Middle Age represented a court action taken against the action of deprivation of real or personal property. The protections by legislation(property law) as well as certain government department such as IP Australia, are hence developed as important tools to maintain the wellbeing of economy and society at an micro and macro level.

Nowadays, the meaning of property had been extended and deepens. Property generally could be classified into three types: real property, personal property and intellectual property. In this articles, firstly, the meaning of these three different types of properties will be presented followed by the comparison between tangible property(real property and personal property) and intangible property(intellectual property). (Encyclopaedic Australian Legal Dictionary) Secondly, a specific type of intellectual property would be discussed with relevant statute law and case. Lastly, a conclusion will be given about the impact and importance of the property law.

Property law generally have three fields, real property, personal property and intellectual property. And real property and personal property could also be classified into tangible property because those types of property are all physically existed. Real property mainly means land, but also including the building and fixture such as fence attached to it. (Encyclopaedic Australian Legal Dictionary) While personal property basically means things that could be movable for example cloths, handbag, furniture .Furthermore, it is said that personal property could not be recovered by real action since it may already been destroyed and could not be recovered. While real property could be recovered. The last type of property is called intellectual property. There is great difference between this type of property and the tangible property. Intellectual property is about idea which is not physically existed. For example a piece of writing ,or music, kinds of specific knowledge . It is viewed as the most valuable asset in a business. Several types of intellectual properties are being classified due to its nature. The most common are copyright, trade mark, patent, and trade secrete ect. Copyright is certain right that owned by the creator over that piece of artwork or paper. Trade mark is a kind of business symbol that represented a certain industry. It was used by the business owner to represent and stand out their own product so that customer could recognize it. Patent represent an exclusive right for using a newly developed technology or inventions. And trade secrete is about the confidential information about a corporation. (Wilson,2008) These different kinds of intellectual property are protected under the property law