Intellectual Property And Rights- Everything You Need To Know

 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.