
What is Intellectual Property?
Common types of intellectual property include patents, trade secrets, trademarks and copyrights.
Some intellectual property can embody more than one type or form. For example, a patent right is granted for a specific period of time, while a trade secret may be maintained forever.
There are basically three types of patents; utility patents, design patents and plant patents. Design patents provide protection for the ornamental aspects of a product. A design may also be copyrightable, however unlike copyright protection, the design patent will not cover the design if it is applied to a type of product that is not covered by the patent. Plant patents encompass a very narrow area of patent law.
What is a Trade Secret?
To qualify for trademark protection, a mark must be "distinctive". The strongest is "fanciful" marks. Fanciful marks are the easiest to receive trademark protection, assuming there are no similar marks in relation to similar products or services. The next type of mark with the strongest likelihood of obtaining trademark protection is "arbitrary". "Suggestive" marks can receive trademark protection but may be more difficult to trademark if they are too "descriptive."
"Descriptive" marks are much more difficult to obtain trademark protection. Otherwise, a descriptive mark will not receive protection.
The weakest category of "distinctiveness" includes marks that are "generic." A generic mark cannot receive trade mark protection.
A copyright is a protection that is granted to "original works of authorship."
A work receives copyright protection when it is "created."
Is Your Business Protecting It's Intellectual Property? An Overview of Patents, Trademarks and More
The main difference between assigning a patent and licensing a patent is important.; Assigning Patents, Trademarks or Copyrights is basically selling the complete ownership interest in that patent, trademark, or copyright.; And the licensing of a patent, trademark, or copyright is like "renting" that patent, trademark, or copyright.
Assignments, like deeds, are not time sensitive.; Once you assign those Patents, Trademarks or Copyrights, your rights in those Patents, Trademarks or Copyrights are gone forever.; In other words, you cannot assign those rights in your Patents, Trademarks or Copyrights for a period of months, years, or decades.