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Intellectual Property Protection: Its Importance and Types

Intellectual Property Protection: Its Importance and Types

Protection for literary and artistic works, inventions, names, symbols and images created by an individual’s creativity is called the intellectual property protection. Business owners and entrepreneurs should be well versed with intellectual property law to protect their ideas from unfair competitors. The distinguishable items created by a certain company or the items from which they can profit are the things that constitutes of the intellectual property.

The entrepreneurs should seek help from professionals who are trained in intellectual property law to protect their designs, ideas and other concepts from being copied by unfair means. They should first decide what they need to protect when it comes to IP because filling and refilling the IP applications may be tedious and also expensive.

  •    One should decide which ideas fall under specific protection options.
  •    An individual should file as soon as possible to minimize the chance of losing out on protection.
  •    One should investigate international patents and those registered in the United States of America.

The 3 Types

Patents: A patent ensures the rights of any kind of invention to a single company or business. No other company can make, use or sell the invention prior to the permission from the company, which holds the patent for that particular invention. Any company can apply for a patent by filing an application to the U. S. Patent and Trademark Office.

Trademark: The source of any product or service is distinguished from one company to another by the trademark. If one company can prove that their product is distinguished from the other. They are offered the © or ™ symbol which is the trademark/copyright symbol.

Copyright: Copyright prevents original works of art such as literary works, artworks or music from being copied or remade.

These are the things that one should keep in mind while thinking of intellectual property protection for business.

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