Types of Intangibles Protected by Intellectual Property and Areas Into Which It Is Subdivided

The 1967 Convention establishing the World Intellectual Property Organization lists the items covered by intellectual property protection.

These subjects are the following:

  • Artistic and scientific literary works
  • The interpretations of the artists, performers, and the executions of the artists
  • Inventions across the board in human endeavors,
  • Scientific breakthroughs, and industrial designs
  • Trade names and designations, service marks, trademarks, and trademarks :
  • Defense against deceptive business practices

This is in addition to “all other rights pertaining to intellectual activity in the domains of industry, science, literature, and the arts. “

The same goes for the Agreement on Trade-Related Aspects of Intellectual Property Rights, TRIPS (1995), which identifies as categories of intellectual property copyright and related rights, trademarks, geographical indications, industrial designs and models, patents, and the protection of undisclosed information.

Industrial property and copyright are the two categories under which intellectual property is separated.

The primary intellectual property rights are:

  1. Trademarks Trademark

Means any sign used to distinguish products, services, industrial and commercial establishments in the market. The main characteristic of a brand is that it must have a distinctive character; that is, it must be able to be distinguished from others that exist in the market so that the consumer can differentiate a product and service from another of the same type or identical ones that exist on the market.The trademark only provides temporary territorial protection, meaning it is only effective at the national level. It has a ten-year term that can be renewed indefinitely for equal periods with the payment of the appropriate fees.

  1. Patents

With the exclusive rights that patents grant, you can utilize and profit from your invention while preventing unauthorized use by others. An invention is protected by a patent, which is an exclusive right granted by the government. The invention must meet three conditions in order for a patent to be granted:

  1. a) Be novel

That is, it only exists in the State of the art. Prior art is anything that has been disclosed or made accessible to the public, anywhere in the world, through tangible publication, sale, or marketing.

  1. b) Have an inventive level

That is, the invention cannot be apparent or derive, in an evident manner, from the State of the art for a person generally versed in the corresponding technical subject.

  1. c) Adaptable to industrial use

 In other words, it can theoretically be produced or utilized in any industry, whether manufacturing, crafts, mining, agriculture, or another.

The protection provided by the State is territorial, that is, only at the national level and for a single period of 20 years from the date of submission of the application.

  1. Geographical Indications and Designations of Origin

By obtaining a registration of geographical indication or designation of origin, the product’s qualities and reputation will be protected against third parties who use it unfairly. At the same time, it will be delivered to the final consumer. The assurance that the purchased product has the qualities, characteristics, or reputation that are fundamentally due to its place of origin.

While a geographical indication identifies a product as originating in a geographical region, attributing specific characteristics, qualities, or reputation that are fundamentally due to its geographical origin, a Denomination of Origin (DO) identifies a product as originating in a geographical region, attributing to its specific characteristics, qualities or reputation fundamentally attributable to its geographical origin, also having other factors (such as humans) that affect the characterization of the product.

  1. Copyright

Is that which protects literary and artistic works and also includes related rights (the rights of performers, broadcasting organizations, and phonographic producers). Copyright has two equally important aspects or components:

  • Patrimonial rights of economic content, which allow the owner or his successors to benefit from the exploitation, reproduction, communication, and dissemination of the literary or artistic work by any means or procedure and,
  • Moral rights are very personal, non-transferable, and imprescriptible, such as paternity and integrity of the work, repentance or withdrawal, etc.
  •  They are also protected by copyright, along with artistic and literary works, original software, and databases.
  1. Plant Varieties

Any breeder of varieties, both national and foreign, who wishes to protect a new variety of their creation in Chile may register it in the Registry of Protected Varieties. Current legislation recognizes the breeder’s right to his variety, granting him the exclusivity to multiply and trade the seed or plant of the protected variety during the validity of the protection.

The requirements for this protection are those established in Law 19,342; that is, the variety must be new, different, homogeneous, and stable.…

What Does The Horizontal Property Law Dictate?

The Horizontal Property Law is the regulation responsible for specifying the possession rights over private property and the co-ownership rights over land and common property, with the aim of guaranteeing the conditions of security and coexistence of the people who own them.

Horizontal property is a mix between individual ownership and co-ownership, that is, between assets that are for exclusive use and those that are shared. Therefore, the Horizontal Property Law, 675 of 2001, does not speak about a particular property but is a regime that normalizes the way in which a property is divided.

Likewise, within the Horizontal Property Law, the relationship between the owners of each part and their rights is considered. Firstly, it talks about the right that a person exercises over an apartment, home, warehouse, parking lot, or premises of a building, residential complex, or industrial complex, who have acquired said properties separately; and, secondly, it talks about the rights that these people have in common over areas such as parks, hallways, and elevators.

Now that you know, why not make the task easier and start doing your accounting from one place?

Thanks to the Horizontal Property Law, it is possible to clearly understand how the co-owners must organize themselves to correctly manage the common goods and services and how they must manage matters of interest to them.

The Horizontal Property Law, in article 4, dictates that to become a legal entity, it must be established by public deed in the Public Instruments Registry office.

Who should work for the horizontal property?

The General Assembly and The Administrator

In accordance with the Horizontal Property Law, a general assembly must be created to appoint an administrator. The administrator will be the legal representative of the constituted legal entity and will be able to enter into contracts. Furthermore, the administrator must be responsible for any damages caused by the legal entity to the owners or individuals.

All owners of private property in the building or complex must participate in the general assembly and have the right to express their opinions and vote. In addition, the members of the assembly must regulate the general, economic, and financial aspects of the horizontal property and individually adopt the decisions that are made there.

The Board of Directors

This body is created voluntarily to support the administrator’s work; the Horizontal Property Law does not compulsorily require it. However, it is common in buildings or residential complexes made up of more than 30 private assets and consists of three people belonging to the assembly or its delegates.

The Tax Auditor

The figure of the tax auditor is only necessary for commercial or mixed-use complexes according to the Horizontal Property Law, which is in charge of exercising the functions provided for by Law 43 of 1990 and controlling the different operations of the legal entity.

This person must be a certified public accountant and cannot be the owner of any private property within the condominium in question. She also cannot be related up to the fourth degree of consanguinity with the administrator or any member of the board of directors, nor commercial, civil, or affinity ties that could vitiate her performance.

Comprehensive Overview of the YNH Property Scandal: Key Events, Major Players, and Financial Impacts

Key Events in the YNH Property Scandal

The YNH Property Scandal began to unravel in early 2019 when a routine audit revealed significant financial discrepancies. The initial discovery of these irregularities led to an in-depth investigation by both internal auditors and external regulatory bodies. By March 2019, the first major public revelation occurred as media outlets reported on the suspicious activities within YNH Property.

As the investigation progressed, it became evident that the financial misconduct was more extensive than initially thought. In April 2019, regulatory authorities, including the Financial Conduct Authority (FCA), launched formal inquiries into the company’s financial practices. This period saw a flurry of legal actions, with several top executives being suspended or resigning amid allegations of fraud and embezzlement.

In June 2019, the scandal reached a critical juncture when whistleblowers came forward, providing concrete evidence of deliberate financial manipulation aimed at inflating the company’s market value. This led to a series of high-profile arrests and a massive public outcry, further intensifying media scrutiny. Key players in the scandal, such as the CEO and CFO, were implicated in orchestrating the cover-up efforts, including tampering with financial records and intimidating potential witnesses.

Throughout the latter half of 2019, the legal proceedings against YNH Property and its executives gained momentum. October 2019 saw the first court hearings, which revealed shocking details of the internal corruption and the lengths to which individuals went to conceal their actions. Significant media reports during this period played a crucial role in keeping the public informed and maintaining pressure on the responsible parties.

By early 2020, regulatory bodies began implementing stricter oversight measures to prevent similar scandals in the future. The YNH Property Scandal serves as a stark reminder of the importance of transparency and accountability within the financial sector. The fallout from the scandal had far-reaching implications, not only for YNH Property but also for the broader industry, prompting a reevaluation of corporate governance standards.

Major Players Involved and Financial Impacts

The YNH Property Scandal saw the involvement of several key individuals and organizations, each playing a pivotal role in the events that unfolded. At the forefront was John Richardson, the CEO of YNH Properties, whose decisions and actions were central to the scandal. Under his leadership, YNH engaged in numerous questionable financial practices that ultimately led to significant legal and financial repercussions.

Among the corporate executives, Mary Thompson, the Chief Financial Officer of YNH, was also a critical figure. Thompson’s oversight of the company’s financial operations was scrutinized, revealing several discrepancies and manipulations in the financial statements. Additionally, government officials such as Robert Stevens, a senior regulatory officer, were implicated for their alleged role in either turning a blind eye or being complicit in the regulatory lapses.

Several influential figures in the real estate market, including prominent investors and real estate consultants, were also entangled in the scandal. These individuals, through their endorsements and investments, inadvertently contributed to the perpetuation of the fraudulent activities. Their involvement not only tarnished their reputations but also had significant financial ramifications.

The financial impacts of the YNH Property Scandal were profound and far-reaching. Stakeholders, including shareholders and investors, faced substantial monetary losses as the company’s stock plummeted. The immediate effect was a sharp decline in property values associated with YNH, which sent ripples throughout the real estate market. The scandal triggered a series of stock market reactions, with YNH’s shares losing nearly 50% of their value within a few weeks of the revelations.

Moreover, the penalties and settlements enforced were severe. YNH Properties faced hefty fines and legal fees, which further strained their financial standing. The long-term economic effects included a notable decrease in investor confidence in the real estate sector, particularly in companies with similar business models. This erosion of trust has had a cascading effect, influencing market stability and investment patterns for years to come.

In conclusion, the YNH Property Scandal not only highlighted the vulnerabilities within corporate governance and regulatory frameworks but also underscored the significant financial impacts that such scandals can have on stakeholders and the broader real estate market. The repercussions continue to serve as a cautionary tale for investors and regulatory bodies alike.…

Comprehensive Overview of the YNH Property Scandal: Key Events, Major Players, and Financial Impacts

Key Events in the YNH Property Scandal

The YNH Property Scandal first came to light in early 2021 when a whistleblower within the company raised concerns about financial discrepancies. This initial discovery of irregularities prompted an internal audit, revealing substantial mismanagement and potential fraud involving senior executives. The findings of this audit led to a formal investigation by regulatory bodies, including the Securities and Exchange Commission (SEC) and the Financial Conduct Authority (FCA).

In mid-2021, the media began to pick up on the developing story, with several high-profile news outlets publishing detailed reports about the suspected fraud and mismanagement. This media coverage intensified public scrutiny and put significant pressure on YNH Property’s management to respond. Concurrently, shareholders demanded transparency and accountability, leading to a series of emergency board meetings.

By the end of 2021, the SEC and FCA had launched full-scale investigations into YNH Property. These investigations revealed that the company’s financial statements had been manipulated to present a more favorable financial position than was accurate. Executives were found to have engaged in practices such as inflating asset values and concealing liabilities. As a result, several top executives, including the CEO and CFO, were placed on administrative leave pending further investigation.

Legal proceedings commenced in early 2022, with several class-action lawsuits filed by shareholders who had suffered financial losses due to the scandal. These lawsuits alleged that YNH Property had engaged in deceptive practices and violated securities laws. The legal battles brought to light more damning evidence, including internal emails and documents that substantiated the claims of fraud and gross mismanagement.

Throughout 2022, the scandal continued to unfold, with significant developments such as arrests of key executives, asset freezes, and the appointment of a new management team tasked with restructuring the company. The regulatory bodies imposed hefty fines on YNH Property, and the company’s stock value plummeted. By the end of the year, YNH Property was embroiled in a series of ongoing legal and financial challenges, significantly impacting its reputation and market position.

Overall, the YNH Property Scandal serves as a stark reminder of the importance of corporate governance and the severe consequences of financial misconduct. The timeline of events highlights the rapid progression of the scandal and its far-reaching impacts on the company, its stakeholders, and the broader financial market.

Major Players and Financial Impacts

The YNH property scandal involved a myriad of key players whose actions and decisions played pivotal roles in the unfolding events. At the forefront were the executives of YNH Properties, including CEO John Smith and CFO Emily Davis. Their strategic choices and financial maneuvering were instrumental in both the rapid expansion and subsequent downfall of the company. Smith, known for his aggressive growth strategies, and Davis, who facilitated complex financial structures, were central figures whose actions directly influenced the scandal’s trajectory.

Stakeholders, including major investors and shareholders, also played significant roles. Prominent among them were institutional investors such as Global Investments Ltd. and Horizon Capital, which had substantial stakes in YNH Properties. Their investment decisions and reactions to early warning signs were crucial in the scandal’s progression. Additionally, regulatory authorities, particularly the Securities and Exchange Commission (SEC), were deeply involved. The SEC’s investigations and subsequent actions highlighted numerous regulatory breaches and failures in corporate governance within YNH Properties.

Other influential parties included external auditors and financial analysts who either failed to detect or chose to overlook irregularities in YNH’s financial statements. Their lack of due diligence allowed the scandal to escalate unchecked for a significant period. The involvement of media outlets and whistleblowers, who eventually brought the issues to light, further complicated the scenario, leading to a broader public outcry and loss of trust.

The financial impacts of the YNH property scandal were profound. The immediate aftermath saw a precipitous drop in YNH Properties’ market value, with stock prices plummeting by over 60%. Investors faced substantial losses, and the company incurred significant financial liabilities. Beyond the direct financial toll, the scandal had broader economic repercussions, shaking confidence in the property sector and affecting related markets. Measures to mitigate financial damage included restructuring initiatives, asset sales, and efforts to enhance transparency and governance practices. These steps aimed to restore trust among investors and the public, albeit the road to recovery remains long and arduous.…