Different Kinds of Intellectual Property Rights

Introduction

The definition of intellectual property rights is any and all rights associated with intangible assets owned by a person or company and protected against use without consent. Intangible assets refer to non-physical property, including right of ownership in intellectual property . Examples of intellectual property rights include:

  • Patents
  • Domain names
  • Industrial design
  • Confidential information
  • Inventions
  • Moral rights
  • Database rights
  • Works of authorship
  • Service marks
  • Logos
  • Trademarks
  • Design rights
  • Business or trade names
  • Commercial secrets
  • Computer software

Scope of Intellectual Property Rights

The scope of IP rights is broad; two classification modes are used to determine whether IP is copyright or Industrial Property. Industrial properties include patents or inventions, trademarks, trade names, biodiversity, plant breeding rights and other commercial interests. A patent gives its holder the exclusive right to use the Intellectual Property for the purposes of making money from the invention. 

An invention is itself a new creation, process, machine or manufacture. Having copyright does not give you the exclusive right to an idea, but it protects the expression of ideas that are different from a patent. Copyright covers many fields, from art and literature to scientific works and software.

Even music and audio-visual works are covered by copyright laws. The duration of copyright protection exists 60 years after the death of the creator. In other words, an author’s book is copyrighted for his entire life and then 60 years after his death. Unlike patent laws, there is no requirement of the administrative process in copyright laws.

Kinds of Intellectual Property Rights

There are four main types of intellectual property rights, including patents, trademarks, copyrights, and Trade Secrets. Owners of intellectual property frequently use more than one of these types of intellectual property law to protect the same intangible assets. For instance, trademark law protects a product’s name, whereas copyright law covers its tagline.

Patent

A patent is a set of exclusive rights that a sovereign state grants an inventor or their assignee in exchange for public disclosure of their inventions. Patents are issued for certain lengths of time that depend on national laws. To receive a patent, an inventor needs to file a claim that meets the minimum requirements of patentability. These requirements often include novelty (originality) and non-obviousness. Once a patent is granted, it prevents others from using, selling, manufacturing or distributing the invention without express permission.

Copyrights

A copyright grants the right to copy a work of intellectual property. It also assigns credit for the IP. Though copyrights were originally conceived as a way for the government to restrict printing, they have since become a means of protecting authors’ rights to profit from their creative endeavors. In addition to written works, copyrights can be assigned to other forms of IP including songs, films, and works of art. Copyrights are issued for a finite amount of time, usually between 50 and 100 years from the time of the author’s death.

Some of the exclusive rights that a copyright affords an author include the right to display the work publicly, transmit or display the work by radio or video, to produce and sell copies of the work and create derivative works for the original.

Trademark

A trademark is a distinctive sign or the symbol used by a business organization, individual or other established legal the entity that is used to differentiate that entity’s products and services from others. Trademarks are typically a word, phrase, design or symbol. Trademarks therefore serve as a badge of origin for a brand in order to communicate that origin to consumers.

Trade Secrets

Trade secrets are the secrets of a business. They are proprietary systems, formulas, strategies, or other confidential information and are not meant for unauthorized commercial use by others. This is a critical form of protection that can help businesses gain a competitive advantage.

Although intellectual property rights may seem to provide a minimum amount of protection, when utilized wisely, they can maximize the benefit and value of an invention and enable world-changing technology to be developed, protected, and monetized.

Procedure for Registrations

Step 1: Write down the invention (idea or concept) with as many details as possible

Step 2: include drawings, diagrams or sketches explaining the working of the invention

Step 3: check whether the invention is patentable subject matter

Step 4a: Patentability search

Step 4b: Decide whether to go ahead with patent

Step 5: Draft (write) patent application

Step 6: Publication of the application

Step 7: Request for examination

Step 8: Respond to Objections

Step 9: Clearing all objections

Step 10: Grant of Patent

Conclusion

Different forms of IPR demand different treatment, handling, planning and strategies, and individuals’ engagement with different domain knowledge such as science, engineering, medicine, law, finance, marketing, and economics. Intellectual property rights (IPR) have social, economic, technical and political implications.

Reference

https://www.indiafilings.com/

https://stfrancislaw.com/blog/intellectual-property-rights/

https://ipindia.gov.in/

Aishwarya Says:

I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.

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The copyright of this Article belongs exclusively to Ms. Aishwarya Sandeep. Reproduction of the same, without permission will amount to Copyright Infringement. Appropriate Legal Action under the Indian Laws will be taken.

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In the year 2021, we wrote about 1000 Inspirational Women In India, in the year 2022, we would be featuring 5000 Start Up Stories.

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