Type of Intellectual Property Dictates Protection Needed

By hrlineup | 31.01.2021

Every business needs a unique product or service to gain recognition in society. As such, organizations need to protect their works so that no other company steals or copies. Securing the rights of an Intellectual Property in the workplace can be beneficial. Investors or business persons receive these rights for their unique work product and information.

Before an invention, there was an idea. If you want to secure your work, you need to acquire one or more intellectual property protection forms. There are four types of IP protection, including trademarks, patents, trade secrets, and copyrights.

Trademarks

A trademark identifies and describes the brand of a company producing a product. It comes in the form of color, smell, sound, or anything that makes a consumer remember your work. An example of a trademark is a slogan, logo, or wordmark. When starting with your product development, it is advisable to first protect your wordmark before seeking other trademark types.

Do your thorough research on companies and products to ensure what you have is unique. Only then will you apply for a trademark on your work. You do not want to find yourself dealing with legal issues that might end up costing you a lot.

Patents

There are two types of patents, namely utility and design patents. A utility patent will protect the composition process, manufacture, and special machines, while a design patent protects the looks, shapes, or other appearance attributes of a product. With a patent, you can limit the work access to a few people. But first, you must understand these patent types to know which one suits their needs.

Trade secrets

A trade secret is a confidential information that comprises formulas, designs, instruments, practices, processes, or compilations beneficial to the economy. You must follow the required steps that qualify your product. In case you wrongfully acquire a trade secret, it means you are violating trade secret protection and will be held liable.

Copyright

The laws give an owner of a product the power to choose who can copy or reproduce their original work. Copyright is a type of intellectual property and human rights tool that applies to written work, music, or drawings. Most state laws automatically apply copyright law upon uploading your content. You do not need to send an application for it. In other states, you must apply for copyright online while providing a sample of your work product and background information.

It is imperative to use intellectual property when introducing your product or service into the market. This procedure saves you money for other products, and you won’t need to worry about your invention’s legitimacy. Ensure you have a written patent agreement that gives you ownership rights if an employee developed a product.

While a company automatically own a copyright right, you must have a written agreement with an independent contractor when working on the invention. Also, ensure your employees sign a confidentiality agreement—this way, your product information won’t be broadcast before launch.

Related Articles