Understanding Different Types of Intellectual Property

Intellectual Property

Intellectual property refers to an umbrella term that spans a variety of intangible assets, such as trademarks, trade secrets, copyrights, and patents. Let’s learn about different types of Intellectual properties, including trademark registration, and understand how they differ from each other.

Trademark

As per the Trademark Act 1999, a trademark refers to distinctive visual elements such as a logo, symbol, emblem, sign, stamp, etc., that serve as a source identifier for the company’s offerings. 

Once registered under the Act, no one except the owner can use these elements for any purpose, be it commercial, marketing, or counterfeiting. 

While applying for trademark registration is relatively easy, adhering to the law can be daunting. In such cases, the assistance of an intellectual property services provider can come in handy. 

Patent 

A patent favours novelty, and hence, it is only available to inventions that are groundbreaking or transformative. The inventions could be anything- from design to physical devices such as machines. 

A prime example of this is Apple’s PC, which was patented in 1983 by the company’s CEO Steve Jobs. Individuals or entities seeking patent protection typically undergo an extensive process of approval. To ease the blow, they can leverage intellectual property services from a reliable partner. 

Copyright

A copyright refers to an original expression of artistic creation, such as songs, lyrics, artwork, etc. Upon creation, these forms automatically bear copyright protection, which can later be legalized by registering under the Act. 

Trade secrets

Trade secrets are primarily referred to as a company’s process that holds a significant value and is susceptible to counterfeiting. That’s why most companies compel employees to sign an NDA i.e., a Non-disclosure Agreement. From a refined market funnel to unique workflow schematics, a trade secret can exist in many forms. 

Digital Assets 

Digital assets such as a line of code, software, and mobile applications qualify for IP protection, provided they are unique and serve a purpose. 

Why Rely on a Seasoned Partner for Intellectual Property Services? 

The way Intellectual properties are exploited can make or break any business. Hence, getting them registered under a respective legislation is not an option; it is an absolute necessity. Individuals or companies seeking IP protection for their intangible assets can avail of intellectual property services from a reliable partner. Here’s why?

• Seamless application filing 

• Comprehensive application tracking 

• Extensive compliance drill-down, ensuring no conditions are left unconsidered.

IP protection is not just an option; it is a vital move towards fencing invaluable company assets against potential infringement or counterfeiting attempts. If you seek top-tier IP support, contact BSW, i.e., Business Setup Worldwide, without thinking twice.