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how to protect innovation and intellectual property in five different ways what is intellectual property intellectual property covers any original ideas designs discoveries inventions and creative work produced by an individual or group it was not a big deal to protect ip in the past however with information more accessible and easier to distribute today due to technology safeguarding your creations and works from infringers copycats and thieves has become vital to any business intellectual property protection is not just necessary to ensure that your innovations will not be copied or stolen it establishes an incentive so whatever you create can proliferate and benefit more people without violating your rights here are five different ways to protect your intellectual property the first way you can protect your intellectual property is to register copyrights trademarks and patents copyright trademark and patent are three of the most common types of intellectual property protection these grant you the exclusive rights to your creations especially when it comes to the commercial gains of its use copyright copyright applies to the protection of tangible and intangible creative works you own the copyright the moment you create something even if you did not register it however it will be easy to validate your ownership especially in a legal dispute if you take your time to register your work copyrights expire 70 years after the death of the creator but can be longer depending on the nature of the intellectual property trademark businesses use symbols designs logos and catchphrases as part of their marketing strategy and identity it is these images and words that help a company connect to its customers thus these need to be protected from possible commercial saboteurs who might use or copy the designs for their own economic gain you may register your trademark online within your country or region however the agency advice is hiring a trademark lawyer to ensure that you won't miss out any steps or paperwork to this extensive process trademarks do not carry an expiration date since you own the rights to your logos symbols and other branding identities in perpetuity however as an added protection trademark owners are encouraged by law to file for a declaration to confirm that the intellectual property is still actively used patent if you have invented a unique product machine or equipment or chemical composition you can also protect this intellectual property by filing for a patent patents carry legal protection that excludes others from making and distributing your invention unless you have given them the license there are different types of the patent process and the conditions or requirements depend on the product or invention thus you will need to carefully identify which category the intellectual property fits best most intellectual property patents are valid from 15 to 20 years after the filing date after this has lapsed your product will have a patent pending status unless you renew it with the agency in charge take your time to clearly understand the differences between copyrights trademarks and patents so you could make the right choice the second way you can protect your intellectual property is to your business product or domain names if you are planning to start a business with your intellectual property you can further protect your interest and identity by registering the business product or domain name associated with it it will also help to secure these names even if you are just in the planning stages of forming your business before others come up with a similar idea and cause some confusion for instance tech giant apple did not own the domain name apple.co.uk until 2012 since it belonged to an illustration company it was alleged that apple paid a substantial amount to the former owners to acquire the domain name your business product and domain names are part of your brand even in cases of a sole proprietorship where you conduct your business under your own name for example john doe photography service it will still help to secure registration you also gain legal protection that makes your business and intellectual property a separate entity from your own person this will prove valuable should you run into legal hitches in court business and product names are usually registered in the country where you operate and the requirements and paperwork may vary domain name registration on the other hand may be quickly done online through your preferred provider the third way you can protect your intellectual property is to create confidentiality non-disclosure or licensing contracts for employees and partners sometimes there is crucial information about your business that you should protect from leaking in public for instance you are developing a video game but you do not want the details to come out before it is ready to launch thus it will be prudent to ask the game developers and other people working for you who have knowledge or access to information or trade secrets to sign a confidentiality agreements with involved parties to ensure the intellectual property is protected confidentiality bound employees and workers to comply with your demands to keep what they know private otherwise they will be legally liable for any leaks confidentiality agreements are also known by other names including a non-disclosure agreement or nda confidential disclosure agreement or cda proprietary information agreement or pia secrecy agreement or sa licensing on the other hand grants a third-party partner with access to your products for their use branding and distribution disney for instance gives licenses to toy makers and distributors for its popular merchandise however the licensor disney in this case defines the parameters of the use of its ip which may include the quality of the products or toys as well as the distribution process since there are plenty of grounds to cover with licensing it's important to consult with lawyers to ensure that all aspects of protecting the ip are established in the licensing agreement the fourth way you can protect your intellectual property is to implement security measures nearly all businesses are conducted today using technology or the internet there is an upside to this because technology may fuel the growth dynamics and success of an operation however there are also downsides to using technology to conduct the business especially when your company's intellectual property is integrally connected online or stored in a system that may be vulnerable to hacking or file corruption thus there is a need to implement robust security measures within the information technology framework of your company these may include setting up password protection for all computer networks encrypting data especially since files are shared within the company's information technology system using virtual private network access also known as vpn establishing wi-fi protected access to invest in reliable software tools to use for storing and distributing files regardless of the size of your business for larger companies however hiring a
Thanks for your comment Doreatha Begeman, have a nice day.
- Bettie Truby, Staff Member
a crucial element of formulating a firm's innovation strategy is determining whether and how to protect its intellectual property four the primary methods of protecting intellectual property include patents copyright trademarks and trade secrets the most commonly used form of patents are utility patents utility patents protect new and useful processes machines manufactured items or combinations of materials such as a bagel slicing device or processed from manufacturing bagels there are also plant patents for the discovery and asexual reproduction of a distinct and new variety of plant and design patents for original and ornamental designs for a manufactured item to qualify for patent protection an invention usually has to be useful novel and non-obvious this means in practice that just swapping out a material for something normally used or making an item more portable generally doesn't qualify for patent protection there's no global patent standard but there are treaties that help to harmonize patent laws across countries and make it easier to apply for patent protection in multiple countries at the same time copyright protection protects works of authorship such as books music films or software to qualify for copyright protection a work must be fixed in a tangible form such as being written down or recorded protection begins from the moment that work is fixed you only have to register your copyright if you want to file an infringement suit you cannot use copyrights to protect titles names short phrases slogans or lists of ingredients trademarks are words phrases symbols or other indicators used to distinguish the source of goods they can even be sounds or smells like copyrights trademarks are also usually established from first use but require registration to file suit but suppose you have a recipe or a process that is valuable but not protectable with patents copyrights or trademark that's where trade secrets come in in just a few minutes the formula will be mine to qualify for trade secret protection the information must offer a distinctive advantage that remains valuable only so long as it remains private the information must not be generally known or readily ascertainable through legitimate means and the trade secret holder must exercise reasonable measures to protect the secrecy of the information last but not least it's important to remember that sometimes your best strategy is to not protect your intellectual property for example sometimes firms don't protect their intellectual property when they're trying to build a dominant standard and they want others to adopt it or when they primarily profit from complementary goods sometimes firms publish their intellectual property to prevent competitors from patenting it to read more about this check out the article below thanks thanks for watching if you enjoyed this video please hit like and subscribe so that you get notified when the new videos come out
Thanks Hutlas5 your participation is very much appreciated
- Bettie Truby
About the author
I've studied commutative algebra at California State Polytechnic University, Pomona in Pomona and I am an expert in economic policy. I usually feel jealous. My previous job was musical instrument tuner I held this position for 24 years, I love talking about dodgeball and computer programming. Huge fan of Dan Lok I practice field hockey and collect patches (also badges).
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