All the patents, copyrights, and many others that you hear are basically a way of legalizing something new, something which has been designed or conceived without fraudulent, treachery, and theft. These are what we call intellectual property rights.
For any business or company, the IPs always holds a
huge market value- the amount usually mounting up to over a quarter million
each. So, with so much value, don’t you think that every company’s shareholders,
board members, and other IP owners should know the basics of the Intellectual Property Rights and what does the protection of the IP means?
Let’s peek at a glance at what must follow this
discussion!
What Is An Intellectual Property
And What Are Its Types?
The first thing we do need to discuss is the
intellectual properties itself. If we go by the definition of any bar
attorney’s book, the easiest explanation that will fit in your brain is-
“An intellectual property is an asset or a property uniquely
designed and conceived by a company or an individual, who has a physical
prototype or form”.
Now, there are four major types of IPs, namely:
- Copyrights
- Patents
- Trade secrets
- Trademarks
What Are Intellectual Property
Rights And Why Do You Need Them?
Now, every country has its own set of Intellectual
Property Rights. These are a set of government ensured corporate laws that
protect one’s interest in any uniquely created or formulated property or an
asset.
There are many reasons for which a country exercises
these rights into the corporate law world. And as a responsible part of the
world, you must know the importance of these IP rights.
- They allow an individual or a
company to exercise sole ownership of an asset.
- The rights allow them to publish
and publicize the physical prototype under the name of the designer
without any lawsuit.
- Rights like International Trademark Protection allow a company to extend the business to
overseas.
What Is The Need Of An
Intellectual Property Lawyer?
Since you have become pretty much familiar with the
IP rights, our last topic of discussion will be about the Intellectual Property Lawyer, and how they can benefit you. These attorneys are responsible
for drawing up the legal IP documents like patents, claims on a design,
trademarks, copyright documents, and so on. Also, with an IP lawyer at your
side, you will be able to file a lawsuit against anyone who will try to use
your IP falsely and without any legal permission.
It’s quite hard to find a law firm that focuses on
protecting the IP rights and allowing the new minds to come up with exciting
ideas and prototypes. But, when you have firms like JMB Davis Ben-David, you
can formulate the idea of your startup or your new technological prototype
without the worry of the world.
