Protecting intellectual property has always been crucial, but now it has become more important than ever. This is especially true when one-third of world trade is related to intangible goods and services protected by intellectual property on which millions of jobs depend.
There are many types of intellectual property such as patents, copyright, trademark and trade secrets, all valuable assets of a company. But to know how to protect them, you need to understand them. All of these protect different types of work, and learning the differences between them will help you determine whether you qualify for protection.
As intellectual property becomes a critical factor in being ahead of the competition in the market, protecting it is crucial to a company’s success. This is especially important for businesses in industries like information technology, biotechnology, art, healthcare, science and many others.
In this blog, we talk about the two primary types of intellectual property which help businesses with daily at K&K Legal Consulting, trademark and copyright and what can go wrong if you don’t protect them.
Trademark
A trademark protects your product or service’s name, logo, emblem, label, or other distinctive features. In the UK, the official government body in control of intellectual property rights is the Intellectual Property Office (IPO).
A sign, phrase or name becomes a trademark when it is unique and unlike any other trademark.
The trademark gives you, the owner of the business, the exclusive right to promote your goods and services on the market using that trademark.
The Trademark Process in the UK
Furthermore, protecting your trademark means protecting the funds you have invested in promoting your product or services.
The trademark registration process is relatively easy. However, to avoid complications down the road, we recommend that you seek the help of a professional. We can assist you with a trademark application, carry out research to make sure you’re application does not infringe any other preexisting trademarks and guide you in the process in the case of an opposition.
If there are no objections against your trademark, the entire process shouldn’t last longer than four months.
When registering a trademark, keep in mind there are 45 classes to choose from. Thus, it is essential to pay attention and carefully select which class you can register your trademark in. A basic online trademark application costs £170 and a further £50 for each additional class you want to register in.
You can search the trademark database here to see if anyone else is registered with a trademark identical or similar to yours.
The moment your trademark is registered, you are the sole owner of that intellectual property right which enables you to take legal action against anyone who tries to use or copy your brand name or logo.
To prevent infringement, it is wise to use the copyright symbol ® on all branding when you use your name or logo.
Trademark protection in the UK is valid for 10 years from the date of application. During that time, there are no further payments or reimbursement.
Copyright
Copyright is a right recognised to authors, artists and other creators for the protection of their literary and artistic works, which are commonly referred to as works. Works that are subject to copyright are usually all original intellectual works. Therefore, they are protected regardless of their quality.
Despite the fact that intellectual property laws, by and large, don’t give a thorough rundown of types of works that are secured by copyright, practically all national laws provide for the protection of the following:
- Musical works
- Multimedia products
- Literary works
- Maps and technical drawings
- Computer programs and databasis
- Photographic works
- Art works
- Film and TV programmes
Copyright protects the original works of authorship like poems, songs, books, a sculpture or a movie. Copyright owners have the exclusive right to do what they please with their work, starting with reproduction, distribution or display.
This allows the copyright owner to choose the best way to realise a commercial gain from their work. The owner may sell or license any of these rights to a third party.
Unlike a trademark, there is no official register of copyright. As such, people often misinterpret it. However, copyright is automatically ocurring in the UK.
If you are concerned about a copyright infringement, don’t hesitate to contact us.
What can go wrong if you don’t protect your intellectual property
Intellectual property involves creations of the mind, be it a brand name, artistic work, or an invention. The exclusive right belongs to the person/business who have come up with the idea first.
In today’s Digital Age, it is very easy for people to “borrow” a logo, a song or a slogan. The biggest problem in protecting intellectual property rights is piracy and counterfeiting. That is why it is now more important than ever to protect what is yours by right. Otherwise, it will may be very damaging to your business.
Young people may not be aware they violate intellectual property rights when they share music, movies or books on the Internet. In doing so, they endanger the economy, especially for creative industries based on intellectual property. It is why it is necessary to bring the importance of intellectual property protection to their attention.
Often people come to us when it’s too late. They have noticed that a business is piggybacking of their success. But they haven’t registered a trademark to protect their brand. Or, another company has jumped in there before them and trademarked their name or a similar logo. Once this happens it is usually too late unless you have very deep pockets!
If you are interested in protecting your growing business with a trademark. Or, you believe someone is infringing on your trademark or copyright then get in touch with us. We can provide you with clear guidance on the options available to you.