Intellectual property refers to property rights to creative works, such as musical, literary and artistic works; discoveries and inventions; words, expressions, symbols and designs.
Common types of intellectual property rights include copyright, trademarks, patents, industrial design rights, trade dress, and copyright. The most common types of IP are trademarks, patents, and copyright.
Possession of copyright means the right owner’s control over how his creative, intellectual or artistic works are copied and distributed. The patent shall also grant the inventor the right to exclude others from the manufacture, use or sale of the invention, or offer to sell or import it (product or process) for a limited period of time, in return for public disclosure of the invention. The patent may be applied only in the name of the inventor or the group of inventors.
Protection of intellectual property rights abroad and intellectual property laws are similar in most countries, but this does not mean that IP certificates operate across countries. Most intellectual property registrations (copyright, patents, etc.) are specific only to the country in which you are registered. This means that if your company is operating globally, you need to be sure to get a registration for the necessary intellectual property protection in the geographical area in which the company operates.
Trademark laws protect your trademark, logo, or logos, but steps are required to get these rights, such as registration and sticking to them. The primary purpose is to protect consumers from confusion so you should carefully choose your own trademark; for using someone else’s trademark is unacceptable and disapproved.
The Trademark Law aims to protect consumers from confusion related to the origin of the product or service. In other words, when a customer picks up a packet of Coca-Cola, the trademark law ensures that they get actual Coca-Cola rather than water with brown food coloring from a company trying to benefit from consumers.
To obtain a trademark, you first need to use any brand you are trying to protect in relation to the sale of goods or services. From there you have two options; either to use the mark as a way to get trademark protection or to file a formal trademark protection application in the Patent and Trademark Office of your geographical area.
Benefits of brand protection:
Without registering your trademark, you will only receive protection for that trademark in a limited geographical area where you sell your product or service.
Registering your trademark means that this brand is yours. By registering the mark, you get a formal government acknowledgment that you are the owner of the trademark, and therefore help you secure your trademark. You can also file a lawsuit if you need a proof that you own this brand when others try to copy it.
When should you register your brand?
You must register your brand as soon as you start selling the product and you can also provide ”intent to use” and reserve the brand before you start selling the product or service.
Registering your brand means fewer disputes on the road, an easier route to obtaining your material and moral rights, and a greater chance of winning any disputes that may occur in the future.
The protection of your trademark may continue indefinitely provided it is used on your products or services, being private not public, and not allowing others to use your mark.
A trademark gives you the exclusive right to use your mark with respect to a very specific set of goods or services; either based on the current use or categories in which your trademark is registered.
Business owners should consider securing a brand name for their company. This is different from registering a company name when applying for a work permit. The trademark protects your exclusive trade rights for the use of the mark at the country level and provides a legal basis for stopping any counterfeiting.
For example, Adidas brought a business suit against Bayliss for selling shoes similar to the first famous sports shoes, after Adidas claimed that Bayliss company violated its brand, misled buyers, and worked to tarnish its business reputation. The jury approved Adidas’ request and awarded the sports brand compensation of $ 305 million.
There are two ways to confirm your trademark protection; TM is used to claim an unregistered or shared trademark. This is the easiest way to apply intellectual property protection to these types of businesses, but they offer limited protection.
The other way is to register your trademark with the Patent and Trademark Office in your geographical area, this provides the greatest degree of protection, and makes it easier for you to confirm your intellectual property rights if you need to take legal action to do so.
As a project owner you need to understand the basics of intellectual property law to better protect your hard-won creativity and ideas and protect them from unfair competition.
Intellectual property rights include the distinctive elements you have created that give you economic benefits to help your company plan to succeed and avoid stealing ideas, design, and other concepts.
Finally, your understanding of laws and regulations protects your brand and spares you the hassle of protecting your brand.