Types Of Intellectual Property
The number of distinct types of legal monopolies over creations of mind, both artistic and commercial, and the corresponding fields of law is called Intellectual property (IP). Under intellectual property law, proprietors have sole rights to some intangible assets such as musical, literary, and artistic works; ideas, discoveries, and inventions; and words. phrases, symbols, and designs. Intellectual property has been categorized into four main kinds namely trademarks, patents, trade secrets and copyrights.
Copyrights deal with safety of original literary and other creative works. They are used to protect the ownership of works like poetic compositions, songs, novels, films etc. They permit the users to exclusively use several forms of their creation in one or the other medium with sole legal authority over reproduction, adaptation, sale etc for a prescribed period of time. The creator has an authority over his work for more than 50 years, which remains even after his demise and any infringement of the work within this time is treated as an offence.
Patents are lawful and certified rights that allow creators to stop others from manufacturing or marketing their invention. They provide protection not just for technological inventions and scientific theories but also for discoveries such as biological ones. The protection cover provided by a patent in most nations is for a span of two decades, after which the invention ceases to be the exclusive property of the patent owner.
Trade secrets are those classified pieces of information that enable a firm to score over its competitors in the market. Trade secrets can include anything ranging from software algorithms to the recipe of a particular dish and even information such as contact numbers of most important customers. In most cases, trade secrets are matters relating to in house management of the firm, which do not involve any type of government interference. Two methods used most often to protect a trade secret are storing it in a bank locker or confining it to a limited number of officials, so that it is not accessible to many people and hence remains secure.
Trademarks include words, logos or designs that are used in the context of a specific brand or product in order to separate it from products of competitors. Trademarks create an exclusive brand identity for a firm and trigger instant recall in the minds of consumers. Generally, a trademark certification holds valid for 10 years after which it has to be renewed.
Copyrights deal with safety of original literary and other creative works. They are used to protect the ownership of works like poetic compositions, songs, novels, films etc. They permit the users to exclusively use several forms of their creation in one or the other medium with sole legal authority over reproduction, adaptation, sale etc for a prescribed period of time. The creator has an authority over his work for more than 50 years, which remains even after his demise and any infringement of the work within this time is treated as an offence.
Patents are lawful and certified rights that allow creators to stop others from manufacturing or marketing their invention. They provide protection not just for technological inventions and scientific theories but also for discoveries such as biological ones. The protection cover provided by a patent in most nations is for a span of two decades, after which the invention ceases to be the exclusive property of the patent owner.
Trade secrets are those classified pieces of information that enable a firm to score over its competitors in the market. Trade secrets can include anything ranging from software algorithms to the recipe of a particular dish and even information such as contact numbers of most important customers. In most cases, trade secrets are matters relating to in house management of the firm, which do not involve any type of government interference. Two methods used most often to protect a trade secret are storing it in a bank locker or confining it to a limited number of officials, so that it is not accessible to many people and hence remains secure.
Trademarks include words, logos or designs that are used in the context of a specific brand or product in order to separate it from products of competitors. Trademarks create an exclusive brand identity for a firm and trigger instant recall in the minds of consumers. Generally, a trademark certification holds valid for 10 years after which it has to be renewed.
About the Author:
Discover more about Trademark Registration Singapore and discover how does an Intellectual Property protection increase the net worth of your business very fast.
