What is intellectual property and How Can I Benefit from it?
One way to protect your company assets is to take the right steps plan on intellectual property. As a business owner, Dennis Danaher of Danaher Legal understands the importance of business assets and planning the details for intellectual property.
What is intellectual property and how can I benefit from it?
Coming up with an original idea, modifying an existing product to create something new is what governs intellectual property. If applied into the business you are running, innovation can make a huge difference. It could also influence the success of a business.
Similar to owning a physical property, addressing ownership issues with intellectual property needs to be carefully laid out. It is important to address any ownership issues in carefully written business agreements as the creator of intellectual property may not necessarily be the owner. Without planning, disputes can arise that can cause harm to your business and its assets.
What types of intellectual property protection are available?
Intellectual property rights come in different forms. It is necessary to be able to distinguish each so that you could choose the right protection that your business needs.
• Registered design: This protects product designs by protecting the visual appearance of the product. However, this offers no protection for how the product works. Examples of this type of protection include kitchen appliances and footwear.
• Trade mark: This involves words, a phrase, scents, packaging or branding aspects, and logos. Any combination of these would also be included in a trade mark. The trade mark identifies the services or product, and it ensures a particular trader's goods or services are distinct from those of another.
• Patent: This applies to inventions. Unlike a registered design, a patent will protect how the invention works and functions.
• Copyright: This applies to creative artwork such as drawings, writings, computer programs, and films. Under a copyright, the owner's original expression of the ideas is protected. However, the ideas themselves are not.
Consulting a solicitor when it comes to drafting arrangements for your intellectual property protection can benefit your business, not to mention protect your interests.
Seek the services of a reputable legal team that have experience and specialise in resolving issues related to intellectual property rights.
Intellectual property protection will provide competitive advantages for the owners of the intellectual property. It also will allow for opportunities for commercialisation and ensure that owners get the appropriate amount of time to use their creation.
What is intellectual property and how can I benefit from it?
Coming up with an original idea, modifying an existing product to create something new is what governs intellectual property. If applied into the business you are running, innovation can make a huge difference. It could also influence the success of a business.
Similar to owning a physical property, addressing ownership issues with intellectual property needs to be carefully laid out. It is important to address any ownership issues in carefully written business agreements as the creator of intellectual property may not necessarily be the owner. Without planning, disputes can arise that can cause harm to your business and its assets.
What types of intellectual property protection are available?
Intellectual property rights come in different forms. It is necessary to be able to distinguish each so that you could choose the right protection that your business needs.
• Registered design: This protects product designs by protecting the visual appearance of the product. However, this offers no protection for how the product works. Examples of this type of protection include kitchen appliances and footwear.
• Trade mark: This involves words, a phrase, scents, packaging or branding aspects, and logos. Any combination of these would also be included in a trade mark. The trade mark identifies the services or product, and it ensures a particular trader's goods or services are distinct from those of another.
• Patent: This applies to inventions. Unlike a registered design, a patent will protect how the invention works and functions.
• Copyright: This applies to creative artwork such as drawings, writings, computer programs, and films. Under a copyright, the owner's original expression of the ideas is protected. However, the ideas themselves are not.
Consulting a solicitor when it comes to drafting arrangements for your intellectual property protection can benefit your business, not to mention protect your interests.
Seek the services of a reputable legal team that have experience and specialise in resolving issues related to intellectual property rights.
Intellectual property protection will provide competitive advantages for the owners of the intellectual property. It also will allow for opportunities for commercialisation and ensure that owners get the appropriate amount of time to use their creation.