What is intellectual property?

| Sep 12, 2019 | Firm News |

If you are a creator or business person in Colorado, it is important that you protect your intellectual property. Understanding what falls under the category of intellectual property helps you identify your legal protections. This is vital because it gives you grounds to take legal action if someone infringes on your intellectual property.

According to Inc., intellectual property is anything you create. It is an idea that you turn into something physical. These items may include articles and books if you are an author. IP also pertains to businesses. For instance, you may have a company that has a distinctive website, website features or logo. Under IP laws, these creations receive protection. Additionally, business or manufacturing processes are another form of IP. For example, if you developed a one-of-a-kind way to manufacture chewing gum, the process itself has protection under the law.

Intellectual property laws cover a wide range of tangible products and services. Because of this, there are also various types of legal protections available to you. These include trademarks, patents, copyrights and even trade secrets. It is also important to know that your intellectual property is a valuable asset. Ownership grants you exclusive rights to reproduce, manufacture, use and promote your unique product, service or idea.

It is more critical than ever to protect your intellectual property. The rise of globalization makes these properties more susceptible to infringement. As a result, there is an increase in IP laws and regulations. Nearly half a century ago no more than 10% of US exports had IP protection. Now that number has grown to roughly 50%.

This information is only intended to educate and it is not legal advice.