Intellectual property as defined by the Merriam-Webster dictionary is “property (as an idea, invention, or process) that derives from the work of the mind or intellect” as well as “an application, right, or registration of that unique idea”. With such a broad definition, it can be difficult to know what to consider intellectual property – and even more difficult to know how to protect it. Some examples of intellectual property may include songs, chemical formulas, literary and artistic works, web pages, and or films. There are four main ways to protect your intellectual property: patents, trademarks, copyrights, and trade secret patents. Each of which gives ownership of the intellectual property.
One way of protecting intellectual property is to obtain a patent for an invention. Getting a patent is the process of registering an invention with the government – the process of getting a patent may take over a year to complete. Patents provide ownership of tangible things and can also be registered in foreign countries in order to avoid international competition. Different patents last for different amounts of time – some may last up to twenty years. Patents act as legal rights to the invention and give others the information to apply to license your product.
Another way to protect intellectual property is with the use of a trademark. A trademark is symbol, name, phrase, or sound that is associated with a product or service. Trademarks are often used in branding products and making sure that customers know who made the product or is offering the service. Trademarks are not required for branding, but the design, name, or symbol is more susceptible to replication. Trademarked items are marked with TM and provide the owner with legal ownership. Trademarks are relatively common and the cost varies depending on what the item will be printed or engraved onto.
Another one of the more popular ways to Intellectual Property Protection is the act of copyrighting things. Copyrights protect written and artistic works. Copyrights may cover novels, screenplays, songs, or poems. The copyright is special because is provides ownership of the expression of an idea rather than the actual idea itself – for example just because a movie about zombies taking over the world has been made doesn’t mean another one can’t it would simply have to be done differently. Copyrights are active without registering works, but must be registered before any legal action can be taken. Copyrights last for the author’s entire life as well as for fifty years after the author’s death.
Another way to protect intellectual property is by obtaining a trade secret patent. Trade secrets are formulas, patterns, and data that provide companies with an advantage over competitors. Trade secrets are granted by the state only after it is proved that the secret adds value to the customer and that they are taking the proper precautions to protect it.
It is important to remember that intellectual property can also be things that are not covered by these methods of protection such as ideas and thoughts. Protecting intellectual property is an important step for any business or company.
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