The fact that you are considering whether or not your business needs intellectual property (IP) protection is a very good sign that you are taking the necessary steps to secure your unique commercial ideas. What can be confusing is knowing which type of IP protection your business actually needs. This blog will lay out the four major types of intellectual property and give you a better idea of how you can position your startup for success.
1. Trademarks. When you’re shoe shopping, you might have a particular brand in mind. If you’re loyal to Nike, you need only take a few quick glances around a store until you spot the company’s signature “Swoosh” logo. This logo is among the most widely recognized trademarked items in the world.
You know that any shoes bearing the Swoosh are made by Nike, which is the purpose of a trademark – to distinguish the source of products and services. Other items that are commonly trademarked include slogans, mottos, symbols, color schemes, and even smells. Trademarks are essential for businesses to effectively market and sell their products.
2. Copyrights. This form of intellectual property protection is associated with original works of art, including songs, films, written content, paintings, plays, and software. Essentially, copyrights protect the manner in which ideas are expressed. A copyrighted work is generally in a fixed form. Like trademarks, copyrighted material does not need to be formally registered to have certain protections; however, registration gives you much greater levels of security.
One of the most famous copyright infringement cases ever occurred in 1990 when Queen and David Bowie threatened legal action based on the sampling of the bass riff from their song “Under Pressure” in Vanilla Ice’s song “Ice Ice Baby.” Because Vanilla Ice lifted the famous bassline (copyrighted material) without crediting Bowie or the members of Queen, he settled out of court and had to give songwriting credits.
3. Patents. A novel, non-obvious invention or innovation generally falls under patent protection from the U.S. Patent and Trademark Office (USPTO). Unlike trademarks and copyrights, patents must be registered to receive protection. There are several prerequisites that must be met for subject matter to be eligible for patent protection, of which there are two main types: utility and design.
Utility patents are used for inventions or processes and their specific function; design patents protect the aesthetics of patented material. Although 3D printers are just now becoming widely accessible, the underlying technology used was patented way back in 1986.
4. Trade Secrets. Although not often thought of as intellectual property, nearly every successful business has trade secrets that give them a competitive advantage over competitors. Information that is not readily available to the public that is used by employees of a business is generally considered to be trade secret material, such as client lists and relevant information on clients that helps companies keep their business relationships. Trade secrets are not federally registered, so it is up to business owners to draft non-disclosure agreements and other employment contracts to protect their trade secrets.
Conclusion
Taking steps to protect your business’s intellectual property, including registering it with federal agencies, costs money but is a very necessary expense to set up your company for long-term success and stability. Please get in touch with Lockhart IP to discuss your options with a qualified IP lawyer today!