Tools Of Intellectual Property Rights

Books, articles, paintings, logo designs, inventions, etc. are a result of one’s intellect and fall in the category of Intellectual Property. The creators in industrial, scientific, literary & artistic fields are given rights over the creation of their minds through Intellectual Property Rights (IPR). Intellectual Property Rights are exclusive, temporary and tradable legal rights that grant the creators and other producers the rights to control the use of intellectual goods and services. There are many types of IPRs including Patents, Trademarks, Copyrights and other related rights, Trade Secrets, etc. The following section discusses briefly discusses a few of them.

Patent

Patent is an exclusive right for safeguarding one’s invention. By patent registration, the owner of the patent ensures that the invention cannot be commercially made, used, distributed or sold without his/her consent. With mutual agreement the owner can license another party to use the invention. The owner can also sell the rights to the invention. Usually, the period of patent protection is 20 years however it varies from jurisdiction to jurisdiction. The protection ends on the expiry of the patent.

Trademark

Trademark is a powerful tool to establish the identification of goods or services produced by a specific person or company. It is a distinctive sign that may comprise of a combination of words, letters, numerals, symbols, drawings, or even three-dimensional signs, which helps consumers to identify and purchase a specific product or service. The owner of the trademark holds exclusive rights to use the particular sign to identify his/her products and services and can authorise other to use the same in return of payment. Trademark registration is for a period of 10 years and it can be renewed thereafter.

Copyrights

Copyrights protect literary and artistic works. Although it is not mandatory to register a copyright as it subsists in the work by virtue of creation, registration will be legal evidence that the owner is the creator of the work. The creator can then sell the rights to other parties in return for payment.

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