Have a brilliant idea you’re certain will change the world? Well, Bright Ideas will only stay bright if it is safeguarded!
A type of intangible asset primarily produced by the human mind or intellect is known as intellectual property (IP). This can take many forms, including tales, artwork, creations, literary works, and discoveries!
Yes, a prosperous company will have its own intellectual assets, which is ideal for a company if such properties are covered by intellectual property rights (IPR)!
The importance of intellectual property
Bright ideas are the basis of all wonderful products. A great concept is like a golden egg just waiting to hatch. Until this egg hatches and brings success, a firm must do all in its power to safeguard it.
For an ENTITY:
Intellectual property preservation is a need because the business of protecting intellectual property is essential to fostering innovation.
An unprotected intellectual property might result in a loss or waste of time and resources employed during the R&D stage.
Investors or prospective customers may feel more secure knowing that their concept or proposal is unique and cannot be found elsewhere on the market thanks to intellectual property protection.
How can intellectual property be safeguarded?
What are the many forms of intellectual property rights (IPR) that a firm should be aware of now that you realize how important it is to preserve intellectual property?
IPR are granted to a company or person to safeguard their intellectual property.
Rights to intellectual property (IPR)
Here are the four most prevalent forms of intellectual property rights (IPR); however, there are other types.
- Industrial Design
- Patent
- Copyright
- Trademark
Trademarks, patents, copies of works, and industrial designs
What sets these various Intellectual Property Rights (IPR) apart from one another, and under what circumstances do we use them?
Trademark |
Patent |
Copyright |
Industrial Design |
| Any image or indication that may differentiate one brand from another is protected by a trademark or trade mark. | A new technique, product, method, or technological solution to a problem developed by a pioneer may be eligible for patent protection. | The only people whose work or performances are protected by copyright are the authors or performers. | Industrial design is employed to safeguard the overall aesthetics of a good, service, or handmade item. |
| Lasts for ten years from the day the trademark application was submitted. However, before the trademark application expires, you must renew it every ten years. | 20 years of patent protection are provided with an annual maintenance charge. | As long as the writer is alive and for an extra 50 years after his or her passing, copyright infringement can be avoided. | Industrial design-viable intellectual property will need to be renewed every five years for a maximum of 25 years. |
| Slogans, words, or a combination of both in logos. | The specifics of the creation of robots, safety razors, microwaves, and even traffic lights. | Poetry, dance, choreography, literary works, or visual arts are examples of creative works. | The general appearance of a thing, such a bottle or a mobile phone. |
Frequently Asked Questions (FAQs)
Does trademark or copyright apply to logos?
A typical myth about logo copyright is that a trademark is what truly protects a logo. While the slogans in a logo design are not protected by copyright, they are under trademark.
What occurs if there is no copyright for a logo?
As said, it is believed that the logo copyright is slightly inaccurate. The absence of copyright would, however, unquestionably be a significant barrier to innovation around the globe. Without financial protection for their works, artists would not last very long.
What happens if you violate someone else’s intellectual property?
A violator will be punished with penalties, have the offending documents seized, have their business licences revoked or suspended, or face civil lawsuits from the victim.
Can you sell an intellectual property?
Selling intellectual property just requires a few simple actions! Please ask us for further details; we are happy to assist you!