Do you know that there different types of Intellectual Property (IP) protection for your business? These all revolve around a similar goal of encouraging your business to innovate. Today, you’ll get familiarized with the four main types.
Have a good read below!
Patents bestow intellectual property right over a creation or invention. It allow the holder to exclude others from using, creating or selling his original invention. These inventions allows various businesses to succeed since organizations establish and expand new products and services that will further the marketplace. In almost every country, there is a designated office for patent applications if you’re eyeing to protect your invention.
Under patents, there are three subtypes. These are utility, design, and plant. Utility patent is the most common type. It covers any process, machine, article of manufacture, or composition of matter, or any new and useful improvements thereof. Meanwhile, design patent covers any new, original, and ornamental design for an article of manufacture. Lastly, a plant patent is any new variety of asexually produced plant.
Trademarks are any phrase, design, symbol which distinguishes the source of products (trademarks) or services (service marks) of one specific business from its competitors. In order to qualify for patent protection, the mark must be distinctive.
Although rights in trademarks are attained through usage, registration still lets you to easily implement your rights for your intellectual property. It is advisable to perform a research first to ensure that the trademark you’ll be registering doesn’t already exist. Conducting a thorough research, preferably with the help of a trademark attorney Philippines, will help reduce the amount of time and money you’ll be spending in the process.
If you’re eyeing to register your trademark, you’ll need a representation of your mark. You must also be able to clearly identify the types of goods and services to which your mark would apply. An online application is available and payments may range due to several factors. The type of form (whether the mark is a word, a symbol or a logo), the number of goods and services may affect the filing fees. Once registered, your trademark is valid for ten years; renewal terms are also ten years.
Trade secrets are devices, formulas, procedures and other important and confidential information which businesses keep private to provide their company an advantage from their competitions.
Not like other types of intellectual property, organizations can’t apply for protection over their trade secrets. Unfortunately, all lies accordingly to their actions. That being said, they need to implement necessary procedures for its control disclosure.
Talk often with employees in order to keep them aware of what must stay out of public discussion and away from your business competitions. Physical and digital protection of ideas is also necessary, so track who has access and limit who can get into important databases.
Looking at the risk and cost-benefit analysis can also help you decide what’s worth protecting. Protection of intellectual property often comes at a high cost and takes much time, so make sure your time and money is worth the investment.
Copyright secures original works of authorship like literaries, dramatic and musical works, choreographic works, sculptural, pictorial, and graphic works, sound recordings, artistic works, architectural works, and computer software. The holder of the a copyright protection has the exclusive rights to distribute, modify, perform, create, display, and copy the work.
For your material to qualify under copyright laws, it should be fixed in a tangible medium of expression like words on a piece of paper or music notes written on a sheet. A copyright exists the moment the work gets created and its registration is only voluntary.