Types Of Intellectual Property

By Prev Info - February 20, 2022

Understanding the different types of Intellectual property that are available to consider is one of the first steps for intellectual property lawyers. Though the lawyers may be able to describe the various types and the one that suits the requirement, it is always better for the entrepreneur to know the different types, before proceeding to the next step.

Intellectual Property

The various intellectual property types that are available include trademarks and trade names, patents and copyright. A trademark is any symbol or word that uniquely identifies a particular product and makes it different from the products of their competitors. It is most commonly used for a well-known logo.

There are actually two options in seeking a trademark. In one option, the creator can start using the trademark as part of their daily operations and then establish their rights. In the second option of trademark, the creator can register for that particular trademark with the concerned authority by taking the help of Intellectual property lawyers.

Patents, on the other hand require the creator to follow proper licensing procedures with the Federal authorities. The creator will be given the license to own the discovery for a specified time frame. Within that time frame, the creator has the rights to modify certain portion of his/her creation and can also sell their license rights to another acquirer.

There are actually different types of patent license agreements. There are agreements in which the creator has to pay some amount as royalty throughout the life span of the patent. Some agreements require annual payment for the patent to be owned and some might require a one-time payment.

Copyrights are another type of intellectual property asset that is particularly application to the software and the publishing industry. Entrepreneurs interested in venturing in to the publishing industry or the content management industry need to get the complete details regarding the copyrights. Hence one has to decide the type of intellectual property asset they want to file for among the above-mentioned types.

IP lawyers will be able to guide the creators in filing for the right kind of IP assets. While choosing an IP lawyer, one should look at the variety of cases they have handled and the different types of assets they had worked on. They should have the formal qualification and the relevant years of experience. After choosing the lawyer, one should not regret that they have chosen the wrong kind of lawyer.





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