Which of the Following is an Example of Intellectual Property

Which of the Following is an Example of Intellectual Property


Equally a business owner, you manage many assets on a daily basis, but you may exist overlooking an important ane: intellectual holding.

Your intellectual belongings includes the intangible assets you create for your business organization, such as names, designs, and automated processes. And just like tangible possessions — like supplies, equipment, buildings, and inventory –, your intellectual belongings contributes to the value and success of your business. So it needs to be monitored and protected.

Here’s a breakdown of common types of intellectual property and tips on how you can protect these assets.

Trademarks

Trademarks are the words, phrases, and symbols that differentiate your make from others in your industry. They must be distinctive and used in commerce to sell or promote a production or service in social club to qualify every bit trademarks.

Examples:

  • Company and product names
  • Slogans and taglines
  • Logos and symbols
  • Brand colors

How you tin can protect them:
Trademarks may exist registered with the federal regime or your country government. Federally registered trademarks protect your rights throughout the U.S., while state-registered trademarks protect your rights simply inside the state’south territory.

While you’re not required to register a trademark, having a registered trademark tin make it easier to challenge anyone who infringes on your trademark rights.

The Us Patent and Trademark Office (USPTO) provides information on how to annals your trademarks at the state or national level.

Federal trademarks last as long as you apply them with the public to promote your goods or services. Trademark applications generally cost betwixt $250 and $350 per form of appurtenances or services. To see if your desired trademark is bachelor, yous tin begin searching the USPTO website or with a general internet search. A trademark lawyer can help you do a more than detailed search to determine the availability of your desired trademark.

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Copyrights

A copyright grants you legal rights to annihilation you create that expresses or embodies an thought. It gives you exclusive rights to copy, distribute, reproduce, display, and license the work.

Examples:

  • Software
  • Architectural designs
  • Graphic arts
  • Video and audio recordings
  • Books and weblog articles
  • Databases

How you can protect them:
Like trademarks, you have some rights to your original work without registering the copyright at the U.S. Copyright Office. Nevertheless, registering can give y’all more leverage if you ever need to take an infringer to court. For instance, if an employee writes an article or takes a photo within the scope of their employment, the employer is the copyright owner automatically. Notwithstanding, an independent contractor who writes an commodity or takes a photo volition be the copyright owner of that asset unless they transfer the copyright through a written contract. As with trademarks, registering them officially can give you more leverage in the outcome of a dispute.

A copyright empowers you to turn a profit from your creative assets. Yous can sell your copyrighted assets and lease them in exchange for license fees and royalties.

A new copyright owned by an private typically lasts 70 years after the decease of the copyright owner. A copyright endemic by a express liability visitor (LLC) or other legal entity will concluding 95 years from the first date the work was used with the public. You can file to annals a copyright with the The states Copyright Function. The current online awarding fee for basic registrations is $45 to $65.

Patents

Patents are granted for new, useful inventions, and they will give you the right to foreclose others from making, using, or selling your invention.

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Examples:

  • Utility patents: for tangible inventions, such as products, machines, devices, and composite materials, besides as new and useful processes
  • Design patents: the ornamental designs on manufactured products
  • Plant patents: new varieties of plants

How you can protect them:
Patent applications can exist filed in the United States with the USPTO, and internationally in the patent office of the applicative state or region. U.S. utility and plant patents take a term of 20 years, while design patents have a term of 15 years. Patents require a nonrefundable filing fee, along with issue, service, and maintenance fees. This tin can add up to thousands of dollars, merely some small businesses authorize for discounts.

Before submitting your patent awarding, yous can (just are not required to) search existing patents and published patent applications to see if your concept has insufficiently novel features. A patent lawyer can aid you do a more thorough search to determine the availability of patent protection for your concept. They can also help you investigate whether any third parties have patents that could prevent you lot from bringing your product or service to market.

Trade secrets

A trade secret is a piece of confidential business information whose secrecy gives y’all an reward over your competitors.

Examples:

  • Formulas
  • Patterns
  • Methods, techniques, and processes

How you can protect them:
Though trade secrets cannot be registered, they are protected through internal policies to ensure the secrecy is maintained. Some examples of ways to protect merchandise secrets include internal policies that restrict access to the merchandise cloak-and-dagger, employment agreements, and non-disclosure agreements. You tin can take legal action against those who misappropriate your trade secrets.

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Go started: Put protections in your business plan

Intellectual belongings rights can help you establish your brand identity, turn a profit off your unique avails, and prevent others from using your creations. Making them role of your business organization plan tin can assistance ensure zilch’southward missed.

Start past listing all your intellectual property assets, then consider which assets need to exist protected. Upkeep for the time and money y’all’ll demand to properly secure the rights to your creations, and outline how yous plan to protect your intellectual assets. Finally, set deadlines for research, filing, and finalizing these steps and work toward them equally you would any other business goal.

Sources: U.Due south. Patent and Trademark Role, U.S. Copyright Office Fees, U.Southward. Copyright Function FAQ

Which of the Following is an Example of Intellectual Property

Source: https://www.wellsfargo.com/biz/wells-fargo-works/planning-operations/security-fraud-protection/four-examples-of-intellectual-property/