What Are the Three Major Types of Intellectual Property Protection?



Posted: Thursday, November 18, 2010

by David Coleman
Lawyer

Many businesses over the years develop significant intellectual property which becomes a major asset over the years that needs to be protected from competitors who wish to take advantage of the fact that another person or organisation has made a large investment in a brand name, an artistic creation or a piece of technology that gives that individual or organisation a significant competitive advantage in the industry that the firm operates in. The three major types of intellectual property which are recognized in most legal systems around the world are copyright, patent and trademark. These three branches of the law cover most of the intellectual property protection which is available.

The first major type of intellectual property protection is copyright. This type of intellectual property protection exists to protect the rights of the original creators of artistic works and productions. The types of works which are protected by these laws are quite broad and include poems, painting, songs, novels and even items like computer software. In some countries it is also necessary to register copyright protection. The second major type of protection is a patent. This is designed to protect unique technology developed by one person or firm which usually represents a large amount of commercial investment. A patent gives the owner of the patent the exclusive right to produce and sell an invention that they have acquired the patent rights over, usually for a defined period of time. This amount of time is usually between 7 and 10 years although can vary outside this range in some countries. There is almost always a patent examination process involved in the approval of a patent where an independent examiner certifies that the patent is original and unique. The final type of protection is called a Trademark. This type of intellectual property is to protect a phrase, word or symbol which is specifically associated with a particular company, brand name or commercial identity. Many companies use this type of intellectual property protection to ensure that competitors do ride off the back of the good reputation of their company by using a name which is identical or very similar to the one that they are currently using and have probably been using for a long period of time. These are the three major types of intellectual property protection. Knowing them can assist you to give your business and its assets much greater protection. David Coleman is a Lawyer in Sydney Australia with over 10 years experience in the legal industry. If you need legal advice or a access to a legal document click on the links contained here.
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