Services
Services
Services
Services
IP is the heart and soul of entrepreneurism. Get the facts before you get started.
S tarting a business is an exciting but stressful time in any entrepreneur’s life. So many challenges confront new business owners that it can be easy to overlook the importance of protecting intellectual property (IP). Yet, intellectual property is the lifeblood of many businesses, and protecting it is vital. Doing so requires an understanding of what intellectual property actually is, and the steps available to you for keeping it safe.
There are four types of intellectual property. Your business may rely on one or more.
A trade secret is information that:
Generally, that information falls into one of the following categories:
For example, a fabric dyeing technique may be a trade secret.
Copyrights protect works which are creative efforts, such as:
Copyright protects many other works as well. To qualify for copyright protection, a work must be original and fixed.
Original works:
The required degree of creativity is minimal—a “spark” or “modicum” of creativity.
Fixed works exist in a tangible form. For example, you could write a poem or record your improv troupe’s performance.
You own a copyright as soon as you create an original work and capture it in a fixed medium. You can register your copyright with the U.S. Copyright Office (USPTO) for extra protection.
U.S. copyright law provides copyright holders with exclusive rights to:
You can also prevent or authorize others from using your work. You can also create works for hire, where an employer owns the copyright for an employee’s work. The same rule applies to some independent contractors and commissions.
Copyright protections last for the copyright holder’s life plus 70 years. Copyrights on works for hire last the shorter of 95 years from publication or 120 years from creation.
Intellectual property is the lifeblood of many businesses, and protecting it is vital.
A trademark is a “mark” that identifies your goods or services. A mark can include:
To qualify for legal protection, a trademark must be strong.
Strong trademarks are inherently distinctive and generally fall into three categories:
Trademarks should not be descriptive (describe the goods or services) and cannot be generic, or the common, everyday words for things.
You own a trademark when you start using the mark in association with goods or services. These automatic rights are limited to the geographic area where you use the trademark. You can register your trademark with the U.S. Patent and Trademark Office (USPTO) to get greater legal protection.
When you own a trademark, you can prevent others from using your trademark or a similar trademark in connection with the same or similar goods or services. In other words, if customers confuse the source of the goods or services, you can stop others from using your trademark.
An unregistered trademark lets you prevent others from using your trademark in your geographic area. A registered trademark enables you to prevent others from using your trademark nationwide.
Unregistered trademarks last while the use continues. Registered trademarks can last for ten years and be renewed virtually indefinitely.
Generally, patents protect inventions. There are three types of patents:
(See descriptions below.)
To be patentable, an invention must be:
You cannot patent an invention that is too similar to an existing invention.
Most inventions are utility patents, which cover new and improved:
Utility patents last for 20 years.
Design patents cover designs for articles of manufacture that are:
Design patents last 15 years.
Plant patents cover new and distinct plant varieties you invent or discover and asexually reproduce. You cannot patent tuber-propagated plants or plants discovered in an uncultivated state. Plant patents last 20 years.
What protections does patent law provide?
Patents prohibit non-patent holders from:
These rights are limited to the U.S. and its territories.
Copyrights, trademarks, and patents cover similar things and can even overlap. However, they involve legally distinct concepts.
IP Type
Copyright
Trademark
Patent
Covers
Original, fixed, creative works
A word, phrase, design (“mark”) associated with goods and services
Useable, novel, not obvious inventions
Protection
Use, reproduce, or perform the work
Prevent others from using the mark in connection with similar goods or services
Prevent others from using, selling, or importing the invention
Registrat-ion Office
U.S. Copyright Office
USPTO
USPTO
Length of Protection
Creator works: life of the creator plus 70 years Works for hire: 95 years from publication or 120 years from creation
Registered trademarks: 10 years, renewable Unregistered trademarks: during use
Utility patents: 20 years Design patents: 15 years Plant patents: 20 years
When conflict arises, proving you created the property first is crucial. Do your best to record the stages of the process. Save your documents, date your works, and protect your files.
Except for trade secrets, you can register all your intellectual property with the U.S. government. Registering your intellectual property is the clearest way to establish your claim to it.
Invest in physical and electronic protections for your property. Consider using, among other things:
Be careful to whom you allow access to your private information, and ensure you provide regular security training.
Especially with trade secrets, strong non-disclosure, licensing, and confidentiality agreements are essential. Create and enforce a system ensuring no one has access to your private information until you establish their access and use terms.
As an entrepreneur, knowing how to safeguard your work from misuse or theft is crucial. Don't let your hard work be compromised. Ensure you take every opportunity to protect your intellectual property and keep your business strong.
Key Takeaways
What is IP? How to keep your IP protected. Four types of IP: trade secrets, copyrights, trademarks, patents. Original works vs. fixed works. Trademarks vs. patents vs. copyrights.
Taylor Bradley, Esq., is a licensed attorney and writer with experience in the private and public sectors, including a highly coveted state supreme court clerkship. She is passionate about many areas of the law and enjoys helping people better understand their legal rights and responsibilities. Read more
Get Bizee Podcast
Join us as we celebrate entrepreneurship and tackle the very real issues of failure, fear and the psychology of success. Each episode is an adventure.