Smart Tips For Uncovering Lawyers

4 Types Of Intellectual Property If you think of starting a new business or has one currently, then it will be important that you make yourself familiar with what is known as intellectual property. Basically, this is a phrase that is used to describe legal rights in which people have a hold over creations of the mind like writing, works of art, designs, music, ideas, choreography or inventions. In reality, there are 4 different kinds of intellectual property and these compose of copyrights, patents, trade secrets and trademarks. Number 1. Copyright – this is a kind of intellectual property that is protecting original authors of both unpublished and published creations. The rights of these works remain only to the passions of the creator for specified period of time under copyright law. These works will be open to others for republication and reproduction as soon as the time period has elapsed. Number 2. Patents – these are basically legal property rights that are applied to the inventions as opposed to works of any type of literacy or art and they should be distributed by the US Patent and Trademark Office. In most instances, the patents can be applied to items such as processes, manufacturing designs, machines, compositions of matter or biological discoveries. Much like copyrights patents are available as well to investors for set period of time before it expires. Generally speaking, patents can last for up to 20 years after the date in which the application for patent is filed.
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Number 3. Trade Secrets – these are basically designs, practices, processes, recipes, formulas or even ideas used by a company that enables it to gain leverage in the industry. In most instances, trade secrets are hidden by the person’s own means not like being protected through government policies like copyrights or patents. To give you an example for self protection used often with trade secrets, it can be done by locking pertinent info away in a bank vault. Because trade secrets are lacking of legal protection, the moment they got leaked to the public, anyone can use them.
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Number 4. Trademarks – these normally include phrases, words, symbols, designs or even devices that are used in line with a certain good or brand to distinguish it from other merchandise of that industry. Truth is, trademarks are used for identification purposes and protected legally the moment they have been registered with US Patent and Trademark Office. Believe it or not, many people are not aware of the value and the presence of these assets because it comprises of expertise, knowledge, now-how that only high qualified employees have. Having such basically gives a company an edge over its competition.