Copyright gives recognition and legal rights to works produced by artists, designers, authors and more, ensuring they receive full credit and payment for their work. Copyright essentially acts as a legal tool to prevent plagiarism and theft of written works. Individuals and firms, including artists, software developers and software companies, publishing agencies and marketing firms rely on copyright protection to receive credit and pay for work, which helps them stay in business and creates broader economic benefits.
Copyright protection extends to existing products and contents, and new material too. According to a study by Price Waterhouse Cooper, copyright laws play key roles in supporting economic growth. Copyright protection extends to over 770,000 content creators in the United Kingdom. These creators produce significant volumes of unique work, sold as software, books and other mediums. Through the copyright system, they receive legal title to their works, which ensures they receive income produced from those works. In turn, that revenue helps them stay in business. Business operation, in turn, contributes to national economic stability and even growth.
Copyright laws protect goods considered tangible items. Legal protection takes effect upon release of materials and products into the public domain. Copyright protection, like warranties and insurance, protects items for certain periods of time. Most afford protection for long periods of time, such as 70 to more than 100 years after creation.