Intellectual Property is a complex substance that is full of different rights. It is for this reason that you need an expert to protect the IP of your business that may be categorized into specific areas namely, patents, trademarks, copyrights, designs, database rights, and confidential information. These are very important for your business whether you consider these collectively or individually. The fact that these are all intangible assets makes these much more difficult to handle and protect. These are very prone to be exploited financially. This is because these intangible assets can be licensed or sold just like any physical property. Ideally, every business holds these assets whether they are conscious of it or not. Critical to protect
Protecting intellectual property is very crucial to establish the presence of your business in the marketplace. These are the assets that will determine your success failure. That is the reason you must understand the different forms of these assets. A few of these may involve formal application and inspection process before you can register your right on it. On the other hand, there are others that may come into play without needing to undergo any registration process. You must, therefore, know your rights according to the requirements, type, and operation of your business. A Law firm in India
can help you in this regard if you are an NRI. Confidential information and copyright
There are different obligations of confidence that may arise under general law or contract. According to general law, there may be a confidential obligation regarding a particular employer-employee relationship, or when any information is received by a person aware or should have been aware. These are the most valuable assets for any business, and these can communicate with any subject matter. These can be stored in any form such as new product design, software code or a marketing strategy. Copyright, on the other hand, is the right to prevent copying any work or act including literary, music, art, and drama. It can be original databases, films, sound recordings, broadcasts, typographical arrangements of any published editions as well. Database and design
The duration of protection of intellectual property may vary depending on the type. It can be 70 years after death of the creator or 50 years, and the Intellectual Property Lawyers in India are the best persons to know about such variances. Database right owner will have the right to undertake, authorize, extract or re-utilize a part or entire contents of the protected database which you may have obtained after substantial investment. The duration of this right is 15 years from the date of completion of the database. Designs can be registered if it has an individual character or is new. Depending on the country of registration it can be for 5 to 25 years after renewal. Patent and trademark
The patent is the exclusive right provided for a limited period that prevents others from using it without permission. Any invention can be patented if it is novel, involves an inventive step or is capable of industrial application. There are two types of patents namely full term and short term, and you can hold only one of it. The Intellectual Property Lawyers also help to protect a trademark that identifies a good or service and relates it to the person or enterprise producing or providing it. Being reasonably knowledge of IP will help your business to integrate these into your strategy and planning.
About the Author:
Amy Jones is a professional legal expert working with Ahlawat & Associates. A company that provides startup legal services in a convenient manner. She is a passionate writer and loves to share business-related tips.