Intellectual property has five types namely [Expert Answers]

Last updated : Aug 16, 2022

What are the 5 types of intellectual property?

• Patents. The U.S. Patent and Trademark Office grants property rights to original inventions, from processes to machines.
• Trademarks. Trademarks protect logos, sounds, words, colors, or symbols used by a company to distinguish its service or product.
• Copyrights.
• Trade Secrets.

What are the types of intellectual property?

The four main types of intellectual property are patents, trademarks, copyrights, and trade secrets.

What are the 4 types of intellectual property explain each?

The vast majority of IP assets fall into four categories: patents, trademarks, copyrights and trade secrets. Patents are exclusive rights that protect invented machines, manufactured objects, technological or industrial processes and systems.

How many categories does intellectual property have?

Copyrights, Patents, Trademarks, and Trade Secrets – Four Types of Intellectual Properties. If you are a business owner, you should familiarize yourself with the four types of intellectual property, otherwise known as IP.

What are the 6 types of intellectual property?

Intellectual property can exist as one of six major types: patents, trademarks, copyrights, design, databases, and trade secrets.

What are the 3 main types of intellectual property?

• Patents. If you have come up with a new invention, you may want to consider protecting it with a patent.
• Trademarks. Let's say that you have come up with a great new name for your brand, company or product.
• Copyrights.

What is intellectual property?

Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.

What are the 4 types of patents?

• Utility patent. This is what most people think of when they think about a patent.
• Provisional patent.
• Design patent.
• Plant patent.

Which is not a type of intellectual property?

The correct option is Incubators and accelerators​ It is covered by valuable patents, trademarks, and copyrights under law, allowing individuals to identify and benefit from the idea. Thus, Incubators and accelerators​ are not covered under this category.

What are the 7 intellectual property rights?

Rights. Intellectual property rights include patents, copyright, industrial design rights, trademarks, plant variety rights, trade dress, geographical indications, and in some jurisdictions trade secrets.

What are the different types of intellectual property risk?

• Copyright pirates.
• Patent flouters.
• Brand impersonators.
• Trade secret thieves.

What are the types of intellectual property PDF?

intellectual Property right includes in Patent, Trademark, Trades crates, Industrial design, Layout design and Copyright oriented rights. Patent Act 1970, Patentability, Patent Infringement, Commercialization, Patent Licensing), Applications of IPR.

What is the most important type of intellectual property?

Patent. A patent is used to prevent an invention from being created, sold, or used by another party without permission. Patents are the most common type of intellectual property rights that come to people's minds when they think of intellectual property rights protection.

What are the types of patents?

What kind of patent do you need? There are three types of patents - Utility, Design, and Plant. Utility patents may be granted to anyone who invents or discovers any new and useful process, machine, article of manufacture, or compositions of matters, or any new useful improvement thereof.

What type of property is intellectual property quizlet?

Intellectual property is the product of a person's mind and is usually considered an expression of human creativity. Examples would be books, poems, photographs, and music. Intellectual property is comprised of five broad categories: Copyright, patents, trademarks, service marks, and trade dress.

What are intellectual property laws?

Intellectual Property law deals with laws to protect and enforce rights of the creators and owners of inventions, writing, music, designs and other works, known as the "intellectual property." There are several areas of intellectual property including copyright, trademarks, patents, and trade secrets.

Is copyright intellectual property?

Trademarks, patents, and copyrights are different types of intellectual property.

Is know how intellectual property?

Know-how, in short, is "private intellectual property" which can be said to be a form of precursor to other intellectual property rights.

Which option is an example of intellectual property?

Examples of intellectual property include designs, concepts, software, inventions, trade secrets, formulas and brand names, as well as works of art. Intellectual property can be protected by copyright, trademark, patent or other legal measure.

What are the 3 primary types of patents?

There are three types of patents: utility patents, design patents, and plant patents. Have you created a new invention? You may be able to protect your rights over that invention with a patent. Patents give inventors the exclusive right to create or use their creation for a certain period of time.

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well welcome everybody to another installment of our series on intellectual property otherwise known as I will sit through anything for a free lunch but today I'm going to talk about the four flavors of intellectual property and we've talked about patents in the past but and we'll talk about them again but we'll talk about them really in the context of what other kinds of intellectual property rights are out there and how do these things all fit together and I think that you'll find it's an interesting story and it really starts with the general concept of intellectual property intellectual property is is essentially something that man is created where we're creating it and we're saying that creations of our mind can be owned and can be treated like property but it's intangible and the value doesn't come from your ability to hold it your ability to live in it like house your ability to drive it like a car but it comes from your ability to do other things with these concepts such as develop and sell products or protect protect your market for particular products ownership of intellectual property is completely a creation of law and public policy and was a big debate bond among the founding fathers about whether we should even have intellectual property rights in the US or whether as Thomas Jefferson urged ideas should be the property of no man and should be free to all but ultimately luckily for us Jefferson's initial views didn't win out and the Constitution of the United States provides for intellectual property rights article 1 section 8 says Congress shall have the power to promote progress of science and the useful arts by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries this was actually fairly revolutionary and at the time the only country in the world that had patent rights was England and the rest of the world had taken the Jefferson Jefferson perspective we have four different flavors of intellectual property rights we're going to talk about today some of which directly are addressed in the Constitution which would include patents and copyrights patents covers compounds machines and processes for the most part and gives you the right to the patent owner the right to exclude others from making using selling offering to sell or importing into the pet into the United States the patent an article or the right to practice a patented process copyrights cover works of authorship that are reduced to a tangible form of expression such as a sound recording such as a book and copyrights give the copyright owner the exclusive right to copy distribute perform display and make derivative works we'll talk about these in more detail and then there are some intellectual property protections that are a function not of state law or constitutional law but our function of I'm sorry not its function of federal law or arising under the Constitution but are arising under state law and those would be trademarks and trade secrets actually trademarks fall under both trademarks are protected under federal registration regime by the US Patent and Trademark Office but also there are state trademark rights as well now which we'll talk about and trademarks indicate the source of goods and services and basically prevents others from from selling products masquerading as products from your company or of your of your known brand and then trade secrets are entirely an animal of state law and they are essentially secrets that have commercial value because of the secret and for someone to take your secrets and use them and properly is unlawful so if someone works for your company they get secrets about how you make your products and they go to work for a competitor and tell them how you make your products that would be misappropriation and you could sue them and the company for that well let's start with patents because in in the context of academic tech transfer these are certainly the main thing that we use and there's a reason why patents are very important for aggot of academic tech transfer and that is that they fit they work well because patents if you are often described as a contract between the government and an inventor where the government says if you agree to tell the world about how your invention works then the government will give you a period of time during which no one else can make use and sell your invention and you'll be able to financially be rewarded for having created the invention and the reason that this works for universities is because we tell everybody about how our inventions work anyway and so this is a way for us to not only preserve our right to publish our research but still protect the commercial value of that and use that commercial value as an incentive to encourage companies to take our inventions and turn them into products and services that can improve for example human health patents give you the right to exclude all of us it doesn't give you the right to actually do anything give you the right to stop other people from doing things so it gives you the right to stop other people from using your invention but it doesn't really give you the right to use it yourself so for example if you have a patent on making illegal drugs I have a patent on a new method of making heroin it doesn't mean that I can go out in my garage and start making heroin and selling it to people heroin is still controlled substance and I would wound up in jail so but if if there was a company that was manufacturing narcotics for approvement this uses prescriptions I could sue them for infringing my patent because I have the right to exclude others from using it or perhaps I could go into the legitimate manufacturer of of narcotics for medicinal Houston and my patent would then serve as a shield around me to prevent others from doing what I'm doing a patent is awarded only if an invention is found to be useful and that's fairly low bar it has to be novel that is it has to not already be known in the world and it has to be non-obvious to one of ordinary skill in the art it has to have there has to be some leap of logic to get there it can't be something that someone of ordinary ability in the field would naturally come to and trying to solve the particular problem patents expire 20 years after they were applied for and they pass a US patent covers only the territory of the United States so if you have a US patent on let's say a new bicycle nobody can make use sell off for sale or import into the United States that bicycle but they can go to Europe and they can make all the bicycles on by your design they want to sell them as often as they want unless of course you have patents in Europe and you can get patents in pretty much any country in the world patents are more difficult to enforce in certain countries than in others so that can be a challenge and it can be expensive but you can yes because remember the your patent gives you the right to exclude others from importing into the United States the patent article there's also something called the process patent Act what if you have a pate

Thanks for your comment Verla Dowless, have a nice day.
- Elden Asper, Staff Member

intellectual property or IP a very misunderstood topic it's not a very exciting topic but there are four different types of IP and it's very important to understand the four types of IP first the patent people always talk about patents you hear people saying oh I have this great idea I'm going to patent that oh this is a great name for this product I'm going to patent that it's very misunderstood patents are basically the right to exclude other people from making whatever you've created there are some crazy patents for example there's actually a patent for a bird diaper that would mean that if anyone other than that person decided they were going to make a bird diaper that person could have stopped them from making the bird diaper but the way it works is it's an exchange with the government you're excluding other people from making your bird diaper but you have to disclose how that bird diaper is made in detail it's online it's at the USPTO you have to disclose that and then after your patent runs out which can be anywhere from 14 to 17 years to 20 years depending on when you got your patent at that time the rest of the world can just go right ahead and make bird diapers so there are two types of patents there's the utility patent and then there's design patents but the whole thing to understand about it is it doesn't give you the right to make whatever you've created because for example with our bird diaper there might be something that's used in that that someone else has a patent on so you might have to go and ask them for the use of their let's say velcro adhesives for the bird diaper now that can get really complicated and this patents is an area there's just been a huge change in the law in the US and it's an area that you must must consult with a professional and often that is a patent attorney understanding that you're not going to patent a name gives you a little bit more information what are you going to do with the name though a name is something you can trademark you can copyright a trademark is something one of the most famous trademarks would be coca-cola Apple these are brands so what you're doing is that trademark for coca-cola on the bottle tells you that if I pour the contents of that bottle into my glass I as a consumer and protected I'm not going to get Pepsi I am going to get coca-cola that's the deal that is made so the exchange is coca-cola pays for that trademark they have the right to use it and as long as they renew it they get to keep using it now coca-cola is a really great example of a trade secret so a trade secret is often used instead of a patent so if you think about the recipe for coca-cola that has been around for over 100 years if they would have patented the recipe and the process for making coca-cola way back when it would have long since been an expired patent and then everyone in the world would know how to make coca-cola so what they do instead is they keep it as a trade secret you don't necessarily have to go to an attorney to protect a trade secret because there isn't any way of filing like there is for a patent a trademark or a copyright so with trade secrets you do have to consult with a professional to make sure that however you're protecting it is proper and will meet whatever state law it applies to you now with Coke they do something really cool with it they actually have divided up the secrets so there's very few people who know the entire process there's restaurants where there's secret recipes and you'll actually have different kitchens where part of the process is done in one kitchen part of the process is done in a different kitchen there's many people say well hey I don't have any trade secrets but things like customer lists supplier relationships these are trade secrets no how about how you put together your software trade secret so with with trade secrets there there basically free to protect but the very important thing about them is once the cats out of the bag that's it no more trade secrets so it's a pro and con between trying to patent something and keeping it as a trade secret a final piece of IP copyrights copyright does not mean the right to copy so what it means is that if you once I write something down once this video is recorded someone has copyright in this video and then that doesn't mean that nobody can copy it what it means is that you have to figure out what are the permissions of use for example there's a great site Creative Commons where people put things on their photographs and videos and people can come and use them once you read the permissions so the copyright is with the author it lasts for the life of the author plus a number of years that keeps increasing and so as an author you don't really have much to worry about during your lifetime but then it becomes really interesting after someone dies and a really good example of that is with Walt Disney because the things that Walt Disney has created are all copy written but Walt Disney has passed away many years ago so a lot of people refer to copyright as kind of the Disney law because the years after the author's death keeps getting bigger and bigger so those are the four types of IP you have your patents your trademarks and your copyrights and your trade secrets and for those of you who are still watching thank you and you might want to ask yourself why why do I care about this because actually almost half the value of most companies in the US and the EU is intangible assets and those intangible assets are intellectual property it's the patents the trademarks the copyrights in the trade secrets so make sure that you understand what those things are so you can make sure that you protect them you

Thanks Whitney your participation is very much appreciated
- Elden Asper

About the author

Elden Asper

I've studied classification at Trinity University in San Antonio and I am an expert in physical metallurgy. I usually feel crappy. My previous job was government service executives I held this position for 7 years, I love talking about groundhopping and stargazing. Huge fan of Nicolas Cage I practice rugby league and collect barbie dolls.