10 Things You Should Know About Intellectual Property

Property is not only in building and movable things, but not often do people consider the intangible assets that also need protection in trademark rights and copyrights known as Intellectual property. If you own or you are going to own intellectual property in the future, here are things you need to know.

1. The same way our law recognizes the tangible property is the same way by which it acknowledges and seeks to protect invisible and intangible rights like patent rights.

2. Just like trademarks, patent rights for inventing products or ideas come into force only after registration.

3. The rights of a trademark owner are only enforceable against third parties upon registration.

4. The effect of registering a trademark is to preclude everyone else from exploiting one’s innovation and goodwill.

5. The law of trademarks is and trade names is not concerned with the quality of inventiveness and all that it protects is the association of a mark or name with certain goods.

6. The law of patents and industrial designs is primarily concerned with the protection of inventive ideas or acts of innovation.

7. Since the registration is done through an enabling statute in the event of violation, statutory protection can be sought.

8. Organizations in manufacturing and retail sectors spend time and money promoting their brand therefore their intentions when seeking registration is to protect competing companies.

9. An important point to observe on Intellectual Rights is that they are only protected within the country of their registration, to get maximum protection, registration must be done in all countries where possible infringement may be anticipated.

10. Placing a value on intellectual property is not easy, the significance of the discovery or invention and its acceptance by the public and the corporate world will generally determine its price.