...

WHAT YOUR BUSINESS REALLY NEEDS

TRADEMARK VS COPYRIGHT VS PATENTS

INTRODUCTION

In this innovation-driven world where ideas and brands give birth to market leadership, intellectual property (IP) is not merely a legal tool, but a strategic one. Starting a startup, building a creative agency or developing a revolutionary product whatever it is, having knowledge about protecting your intellectual property is indispensable. But the most common misunderstanding exists in relation to three basic forms of IP protection: trademarks, copyrights, and patents. Each of them serves a particular purpose, offering different kinds of protection, duration, and enforcement. Interpreting them incorrectly or overlooking them can have costly consequences, including loss of exclusivity, dispute over infringement, and diminished brand value. So what does your company require? Let’s discuss in detail in this blog.

Understanding the Basics

Before diving into the specifics, let’s clarify what each type of IP protection entails:

What is a Trademark?

Trademark is an Intellectual property rights granted to a brand such as name, design, symbol, characters, numbers etc. It is protection gained in the business through goodwill and long lasting hard work. A trademark acknowledges the company's ownership of the brand and uniquely identifies a product as belonging to that company. The Trademark applies to both goods and services. The Protection is given till 10 years. It shall be renewed after 10 years. Few Examples of Trademarks include The Chennai Silks, Adayar Ananda Bavan etc.

In India, the Trade Marks Registry was founded in 1940 and is currently run by the Trade Marks Act of 1999 and its regulations. It facilitates matters pertaining to trademarks in the nation and serves as a reference and information center. The Trade Marks Act of 1999 aims to improve the protection of trademarks for goods and services, register trademarks that are applied for in the nation and stop trademark fraud. The Registry's primary duty is to register trademarks that meet the Act's and the Rules' requirements for registration.

What is Copyright?

Copyright is Intellectual property protection given to the authors of literary work, musical work, dramatic work, painting, music, broadcasting etc. It is a protection given to the owner until the life of the author plus 60 years. Copyright is governed by the Copyrights Act, 1957.

  • Few Examples include protection for websites, books, music etc

What is a Patent?

patent is a protection given to the owner of the inventions which are novel, utility and have the capacity of Industrial application. It is a protection given to the owner for the period of 20 years. After 20 years, the Patents enter the public domain so that anybody can use,sell or recreate the patent. There is a concept of compulsory licensing which means, if the patent holder has not utilized his patent or misused the patent, then the Patent Law allows a third party to use, make, or sell a patented invention without the patent holder's permission.

This is in contrast to the general provision that the owners of patents have an exclusive right to use their inventions. Compulsory licensing seeks to make inventions available to the public and avoid the patent holders from unreasonably exploiting their inventions.

NEED OF A BUSINESS FOR INTELLECTUAL PROPERTY FOR STARTUPS

First, we have to know the benefits of each IP protection. A business can get benefit from all the three of them.

  • Trademarks help in building brand recognition and customer loyalty.
  • Copyrights protect creative works and ensure creators are compensated.
  • Patents provide a competitive edge by protecting inventions and processes.

First, we have to know the benefits of each IP protection. A business can get benefit from all the three of

Trademarks

Firms need trademarks to protect their names, logos, and catchphrases as well as to prevent other firms from using confusingly similar marks. Trade name copyright protection also helps establish brand recognition in the marketplace.

Copyrights

Copyrights are needed to safeguard original works of authorship, including computer programs, content on sites or written material, from being duplicated and disseminated without permission. It prevents rivals from profiting from their work and allows firms to control how their imaginative property is utilized

Patents

Patents give the inventor of a creation exclusive rights and safeguard new designs, machinery, and processes. It is of particular importance to businesses that are in the high-tech industry or businesses that develop new products or processes since it can discourage others from copying or using their inventions without permission.

CHOOSING THE RIGHT PROTECTION FOR YOUR BUSINESS

After knowing the meaning of each IP protection, It is challenging to decide which IP suits the business. In order to determine which IP is needed it is decided purely based on the type of business that is carried. The intellectual property for startups, the choice depends on your business model and assets.

For a technology startup creating a mobile app, copyright would safeguard the code, whereas patents could cover the proprietary technology on which it was built. The logo and brand name, in turn, would need trademark registration.

For a fashion designer, the designs and sketches are copyrighted but the label name and logo are trademarks. For a pharmaceutical company that is developing a new drug, it would utilize patents to cover the formulation and use trademarks for branding the product in the market.

The Notable step is to do a proper IP audit in your business life. Knowing what IP assets you have and obtaining the right form of protection is crucial in minimizing legal risks and maximizing commercial value.

MAKE PROTECTION A BUSINESS PRIORITY: PROTECTING YOUR INTELLECTUAL PROPERTY

Successful person in business had faced a lot of struggles to get into the position. It is not easy to build a paradise in a very short duration. Protecting your intellectual property is not only essential for large companies but also for startups and SMEs. All serious businesses need the protection of Copyright, trademark and patent. They shield the brand and protect creativity.

The optimal strategy is preventive. Start with an evaluation of your existing IP assets, seek advice from legal experts where necessary and invest in the right protections. If unsure where to begin, collaboration with IP consultants or legal specialists can simplify the process and guarantee that your intellectual property is in line with your business objectives. In an economy driven by ideas and innovation, protecting your IP isn't a legal requirement, it's a strategic imperative.

Frequently Asked Questions

What is the difference between a trademark, copyright, and patent?

A trademark protects logos and names. A copyright safeguards to literature, music, and art. A patent protects new inventions and processes. This is the basic difference between copyright trademark and patent.

How long do these protections last?

Trademark- 10 years, Copyright- Author's lifetime + 60 years (in India), Patent- 20 years.

Do I need to register my trademark or copyright to get protection?

It is not mandatory to register a trademark or copyright. But registering those copyright and trademark gives strong legal protection.

What qualifies for copyright protection?

Literary works such as books, software code, articles, and websites, artistic works such as music, videos, paintings, are protected under copyright law.

What kind of things can be trademarked?

Words, logos, symbols, taglines, colors, shapes, and even sounds that distinguish your brand in the marketplace can be trademarked.

Can I patent an idea?

No, the ideas cannot be patented. Only the novel works are made out of innovative ideas which are made from the ideas.

What is compulsory licensing in patents?

When a patent holder has not used the patent and the product in the useful form, he has to give the patent to the public domain. This is called as Compulsory License.

Can one product be protected by all three: trademark, copyright, and patent?

Yes. For example, a smartphone may have a patented design and technology, copyrighted user interface and software, a trademarked brand name and logo.

What happens if someone uses my IP without permission?

It amounts to infringement. You can file an infringement suit in the court.

How do I know what type of protection my business needs?

This depends on your business activities. Intellectual property for startups typically requires a combination of all three protections based on your specific business model and assets.