Intellectual property is an aspect of business and commercial law in Minnesota. It includes inventions, artistic and literal works, logos, symbols, names, designs, and images designed for commerce. We use copyrights, patents and trademarks to safeguard these properties. It’s the only way to protect your proprietary rights and achieve financial and branding recognition. The following is various ways to protect IPs.
Copyright
Used to safeguard ownership of artistic and literary works. We are talking about music, paintings, manuscripts, computer programs, ads and more.
Patents and trademarks
Patents promise exclusive rights to an invention. Trademarks distinguish an enterprise’s goods or services from its competition. They also grant the enterprise protection in that no other company can use its trademarked product or service.
Industrial design
Industrial IP entails the aesthetic or ornamental elements of an article. This includes shapes, surfaces, two- and three-dimensional features, lines, patterns, or colors.
Geographic indications and trade secrets
Just as it sounds, geographic indications are used to distinguish geographical origin and processes. Trade secrets are proprietary information you don’t want shared to avoid unfair practices or violations that may damage the trade secret owner.
Benefits to protecting your IP
The value of your company will grow. If you have not protected your IP, not only does it not grow with you, but you leave your brand open to use by others.
Protecting your IP also ensures you’re safe down the line. Many an entrepreneur discovered too late that he or she was using a product or brand idea that belonged to someone else. He or she likely found him or herself embroiled in a time-consuming and costly confrontation to resolve the issue.
When you legally own your intellectual property, you give yourself the exclusive right to use your IP. You need to do this correctly. Safeguarding your IP prevents counterfeiting and branding your creations with your consumers.
If you hope to ensure your efforts expand into other verticals as your licenses benefit your operations, use business and commercial law to your advantage.