Question

As you think about the differences in legal protection for intellectual property and real property, can you think about whether those differences affect contract issues? Do they suggest different rules for contract formation or for protection given to parties to a contract?

Answer 1

The differences between intellectual property and real property affect the contracts. This is because while intellectual property is related to a person's personal work and is not as physical in form as a real property , the kind of protection that is needed varies between both of them. Real properties require physical protection such as protection against occupation whereas intellectual property needs the ideas to be safeguarded .Hence the type of terms required for intellectual properties vary from real property and even the costs are different for both. Hence these is a need for different rules and terms for contracts of both the properties.