Intellectual Property laws and legislation safeguard the rights of the owners and inventors of intellectual property (IP). Innovations, designs, and creative ideas are referred to as intellectual property laws. Legislation governing trademarks, patents, designs and copyright are all examples of intellectual property law.
The purpose of intellectual property laws is to promote the development of a wide range of products and concepts. You may learn more about intellectual property, the types you could have, and how to preserve it by reading this guide.
What Exactly Is Intellectual Property?
Intellectual property is an umbrella term used to describe property that derives from the mind. The most common forms which are registered are patents, trademarks and designs. They allow you to assert ownership over ideas or brands even when they aren’t physically there, just like you would with a home, vehicle, or boat.
- Intellectual Property (Soft):
Occasionally, the phrase “soft intellectual property” is used to describe copyrights, trademarks, patents and trade secrets. Understanding “Soft Intellectual Property” might help you get a sense of what exactly is covered by this broad category. “Hard Intellectual Property” sometimes is referred to as “patents”.
Soft and Hard Intellectual property isn’t generally used by most practitioners as they are not apt to distinguish the protective scope of the various forms of intellectual property.
- Secrets of the Trade:
Confidential information or knowledge with significant economic value is referred to as a trade secret. You must take reasonable precautions to keep it a secret and it must be so important to your company that it is worth safeguarding. It is difficult to keep products confidential as they can be reverse engineered when sold.
This is why it is worth considering protecting products with patents and designs if possible. Anyone who makes or sells the products is liable for compensation, if they are not authorised by the patent or design owner.
What Intellectual Property Rights Do You Have?
Patents, designs, creative works, and trademarks are examples of common intellectual property. These unique designs, works, or brands become the owner’s property after applications are lodged with the Patent and Trademark Office.
The owner enjoys the monopoly benefits of the resulting registration or granted rights. Others may not use your property without your consent if you have intellectual property rights.
How to Safeguard Intellectual Property?
Intellectual property falls into several kinds, but all IP protection works by creating legal risk for third parties who may utilise your material without consent. You must first establish the sort of intellectual property you have to properly protect it. This is best done by a professional consultation and commercialisation meeting, to ensure there are no mistakes.
- Discussing Your Concept:
Even in the early stages, you should be cautious about who you tell, even if it might be difficult to keep a fantastic idea to yourself. The submission of a provisional patent application or a design application may be a viable choice for you if your concept is for an invention or design.
Consider having third parties sign a non-disclosure agreement (NDA) if you need to discuss your concept with them. Your Patent Attorney does not need to sign an NDA as they are obligated to keep your idea confidential under the Patent Act.
- Making Use of a Cease-and-Desist Letter:
What should you do if you discover someone is utilising your intellectual property without consent?
Writing a cease-and-desist letter is one possibility. Generally, it is better to hire a Patent Attorney to draft and serve a letter and ensure that all the laws and requirements are met. Otherwise, there could be legal repercussions for threatening the other side, or you could prejudice your position unintentionally, making it difficult for Patent Attorneys to win your case.
A cease-and-desist letter informs others taking advantage of your intellectual property of what they are doing and the repercussions.
Is it necessary to have a design, trademark, copyright, or patent?
Logos, brand names, slogans, and other similar items may all be distinguished using trademarks.
Original creative works are subject to copyright laws.
New, practical, and non-obvious innovations are often protected by patents.
Designs protect the new appearance or shape of a product.
Obtaining some intellectual property protection might sometimes appear to be straightforward. Taking steps without representation can have serious consequences and render your protection useless.
We recommend you seek advice from your Patent Attorney to formulate an appropriate IP protection strategy.
The Patent Lawyers and Trademark Lawyers at Australian Patent and Trademark Services can swiftly provide the best patent services and trademark services while assuring a smooth and dependable longer term intellectual property protection experience.
