Most people envision a physical or tangible medium when they think of “property,” such as real property (often real estate) or personal property (such as computers, jewellery, cars and more).
However, a brand’s most valuable asset might not come in tangible form.
Indeed, intellectual property protection might save your business from a lot of trouble!
Intellectual property grants intangible legal rights. Patents, copyrights and trademarks are the three main categories of intellectual property rights.
Before deciding on a specific type of intellectual property right, it’s important to understand how these three bodies of legislation each protect the different types of intellectual property.
Keep on reading to learn more!
Understanding The Three Intellectual Property Protections
What is a Copyright?
Copyright protects original works of authorship, such as songs, novels, movies, essays, and much more.
The most important requirement is that the work must be on a tangible or digital medium, such paper, film, or a computer file.
A copyright grants you the exclusive right to use a work in a variety of ways, including reproduction, sale, distribute copies, display, performance, and the creation of derivative works.
Do I Really Need Copyright Law Protection?
If your work is unregistered, it can be challenging to prove if someone else uses or steals your work.
Additionally, a copyright owner can only file a lawsuit for copyright infringement only if the work is registered under copyright law.
What is a Patent?
An inventor who receives a patent is given the right to monopolise the production, application, sale, and importation of new inventions.
This patent system entitles the patent holder to recoup damages in a legal action against an infringer for a set period of time.
The patents differ depending on the nature of the innovation, making 3 types of patents accessible to inventors.
What are the Types of Patents?
Utility Patents
Utility patents protect inventions or the development of a brand-new or enhanced complex machinery, method, or product. A “patent for invention,” as it is also called, prevents anyone from producing, utilising, or commercialising the invention without permission.
Utility patents are valid for up to 20 years following the patent application filing, but the holder is required to pay recurring maintenance costs.
Despite the fact that most people identify patents with devices like machines and appliances, utility patent protects things like software code, operational procedures, and chemical compositions used in products like pharmaceutical drugs.
Plant Patents
A plant patent grants property rights to the patent holder preventing others from stealing, selling, or utilising a new and distinctive plant’s key features.
The plant must be genetically similar to the original and capable of asexual reproduction via techniques like root cuttings, bulbs, division, grafting, and budding.
Design Patents
On the other hand, an ornamental design patent covers the distinctive appearance of a manufactured good.
Consider an automobile with an instantly recognisable hood or headlight shape as an example.
These aesthetic components contribute to the car’s individuality and may increase its worth; nevertheless, without patent protection, rivals are able to replicate them without facing legal repercussions.
What is a Trademark?
Specific phrases, brand names, logos or designs that distinguish your organisation and its products or services qualify as trademarks.
Having a trademark might help you stand out from the competition. A trademark grants you exclusive rights and stops your competitors from using it in the same class of goods or services.
Because a registered trademark is a form of intellectual property, you can license or assign it to others.
To make your trademark claim public, we advise registering your work with the help of a trusted business service provider. That way, you can ensure the trademarking process goes as smoothly as possible.
Once acquired, you are able to take legal action for any trademark infringement.
Grow Your Business Entity and Protect Your Intellectual Property with Mi2u!
Can’t figure out how to properly protect your intellectual property under Singapore law?
Not to worry – Mi2u provides a wide range of corporate services to ease your business journey, from trademarking to accounting!
We ensure that all filings and applications are done professionally and in accordance to the relevant Singaporean laws. All you need to worry about is running your business smoothly.
Check out our services and leave your details below so we can help with your business needs!
