3 types of intellectual property rights

| Jul 11, 2019 | Uncategorized |

As a business owner, you want to make sure your endeavors get legal protection from theft. Perhaps you do not believe you have enough to meet the requirements of registering your creation.

Intellectual property rights are laws put into place that help business owners get the rights for intangible property such as ideas and creations. The two main categories are copyright and industrial property rights. Within these two subsets of intellectual property, companies will find three of the traditional ways they can act to protect their creations.

  1. Patent

When you invent something that solves a need or provides new technology, you should apply to get a patent for it. A patent is a license that recognizes you as the creator and debunks any subsequent claims or patents for the same invention. It is the most basic form of protection of company property and the most crucial. A company who files for a patent must prove the following:

  • The item is innovative
  • The item solves a problem or provides a new service
  • The item is not a universal concept or belief

A patent can help protect your company if a competitor tries to introduce an identical concept or service.

  1. Copyright

If your intellectual property is more creative than tangible or inventive, then you will want to file for copyright. This designation recognizes the individual creator of artistic works such as books, paintings and music. It is a temporary hold and stops others from illegally using part or all of the work without paying you for it.

  1. Trademark

You spent many hours and countless revisions to create a logo that stands out among similar companies. As such, you want to file for trademark protection to prevent others from establishing one that looks enough like it that your services and theirs are often mistaken.

Protecting your company extends to the ideas and conventions you spend a bulk of time creating. Through intellectual property rights, you can stop others from profiting off of your original works.