Know what qualifies Intellectual Property Protection


Intellectual property rights play a vital role in all sectors. The word intellectual property is defined by the world intellectual property organization (WIPO) which says that intellectual property is the creations of the mind such as inventions, literary, artistic works, symbols, designs, images, and names used in commerce. In simple words, Intellectual property refers to a brand, an invention, design or any other kind of creation and Intellectual property protection indicates legal rights or authority over a business or an individual.

There are four main types of intellectual property:

1. Patent:

The patent is some kind of title which gives the rights to its owners to take legal action against others who tries to exploit the specific invention that is mentioned in the patent. It gives the legal protection for your business that excludes others from using, selling or importing the invention.

2. Trademark:

Trademark is another crucial type of intellectual property. It is just like a specific sign such as any distinguishing word, marks, or any other features by which a business identifies its services or products among its competitors.

3. Copyright:

Copyright is a legal term that defines the creator's authority and rights for their original creations and the creation could be literary, artistic, or musical. Copyright protection gives you moral rights and economic rights for your invention.

4. Trade secrets:

The term trade secrets refer to property and secret information that is of commercial value. It is crucial and secret information that is not disclosed publicly and the owner (usually a business) takes steps to ensure secrecy. 

The lack of proper knowledge about IP protection and tools could damage your reputation in the market or divert customers away from your business. This can be dangerous for your business because anyone can try to misuse your startup’s inventions, design, or artwork, information without your permission so you need proper guidance on how to protect your intellectual property.

1. Hire an IP attorney:

Intellectual property protection law is such an extremely complicated comprising rule for protecting and applying legal rights to the artwork, invention, and design. An IP attorney provides you the proper advice and guides you about intellectual property protection and helps to build an effective strategy to avoid financial and legal mistakes of business owners.

2. Protect your IP with an NDA:

The sign of Nondisclosure agreement (NDA) indicates the restriction for copying or sharing crucial materials such as business plan, private placement memorandum, and slide presentation, etc with others. It protects your intellectual property when you share the property information with potential investors for raising funds.

3. Protect your IP worldwide:

Many startups understand how important it is to protect their Intellectual property rights outside the United States. If you are a U.S. resident and your inventions and ideas are demanding in the international market and sold in other countries so you need to apply for a U.S. patent. This patent application gives protection for your intellectual property in more than 100 countries for up to 18 months.    

4. Register the right IP protection:

Registration of your work is the best way to protect your intellectual property. It helps to restrict people from using your work without permission. You should file the following registration for taking legal rights like registration of your trademark, registration of your patent, and registration of your copyright. 

Disclosure of confidential information such as involving trade secrets or patents, infringement on trademarks, and affecting copyright by third parties gives them a competitive advantage. The use of intellectual property protection and management software has become a crucial tool for all sizes of businesses. The impact of tracking intellectual property’s creation, usage, and cost structure is highly evident and it is also helpful for preserving revenue for both new products and existing assets.  


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