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Types of Intellectual Property Rights

Update Date:2015-12-14 9:44:59 Source:Tannet (Malaysia) Sdn Bhd Views:649

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The concept of intellectual property is not an entirely new one, but it has become increasingly more important as the economy worldwide has begun to shift into what is known as an information economy. This shift has started to change what is considered valuable in private exchange. Instead of physical objects, or land, the most important form of property in this new world is intellectual, the creative products of the human mind.

Trade Mark:

A sign that can distinguish the goods and services from one trader from those of another. Might include words, logos, pictures or a combination of these

Advantage:

Legally prevents others taking advantage of customer good will generated by your business by trading under your name (or something very similar)

Copyrights:

Comes into effect immediately something that can be protected is created and ‘fixed’ in some way e.g. on paper, on film, via sound recording, as an electronic record on the internet, etc

Patent:

Granted by a government, a patent is the right for a limited period to stop others making, using or selling an invention without permission.

Advantages:

A patent gives the legal right to stop others using your invention. Its existence may be enough to deter competitors Buys time (20 years) in which an inventor can develop a market to the product or process.

Attractive to investors as it limits competition.

Industrial Design:

Monopoly right for the appearance of the whole or a part of a product resulting from the features lines, colors, shape, texture or materials used. Cannot be the same as any design already available and must have individual characters.

Advantages:

Can be combined with legal protection from copy right and design rights Protect genuine design innovation for up to 25 year.


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