Entrepreneurs who are in search for facts on rules on intellectual property which they can incorporate into their business plan or in their actual business operations.
What Is It About:
This tutorial discusses the facts on intellectual property, sets the rules on the same and at the same time educates the entrepreneur on its effects and importance.
Where Can Resources Be Found:
Recommended resource is provided in this tutorial.
When Is The Best Time:
Facts on intellectual property is best learned before the actual making of your business plan. This can help you come up with better strategies which are according to the rules. Moreover, entrepreneurs can make use of the knowledge in intellectual property as well during the actual operation of the business.
How To Do It:
This tutorial can help you gain the necessary knowledge on intellectual properties, its rules and its importance to your company.
Starting your own businessentails much thought. Consider the type of business that you wish to engage into, the products that you sell and the services that you offer, which will stand out from the rest, the business logo, signage, and strategies to be known, especially with your target market. This information will define your business, thus, these must be protected.
It is the Federal Government’s initiative to protect the intellectual properties of businessmen and their businesses. That is why rules for the same are created by the Federal State, the Commissions and Agencies authorized by the Federal Government as regulators as well as the respective States in America. This tutorial will help you understand intellectual property, the rules involved in protecting them and its benefits on your business. Read on and learn.
Intellectual properties are creations of the mind which includes inventions, innovations, trade secrets, trademarks, symbols, names images, designs, and the like. It may also include literary works such as poems, novels, and other written articles.
For business, the classification for intellectual property may be as follows:
- Digital Rights are digital works especially in the internet which includes texts, graphics, images, movies or videos, music and arts.
- Copyright protects the expression or embodiment of ideas. It includes published or unpublished books, advertisements, maps, lyrics, and even labels. Owners of copyrighted works have the right to reproduce their works, distribute them, perform them in public, derive more works from it or display or exhibit them.
- Trademark is a unique symbol, design or graphics which may be attached to a product or item to assure its genuineness. A trademark grants the owners exclusive rights and legal ownership over the item.
- Patents are granted to inventors or innovators of products. They have exclusive rights to make, use, and sell their invention, to the exclusion of the others.
Laws Protecting Intellectual Property Rights
There are a number of laws enforced in our jurisdiction which aim to protect the intellectual property rights of an individual or a business owner. These were enacted to regulate the US Market and its concerns on Intellectual Property. Here are some of the rules:
- Digital Millennium Copyright Act aims to protect information published in the internet against copyright infringement, piracy, illegal copy of softwares and the like.
- Uniform Trade Secrets Act which protects the trade secrets of business owners against possible spilling out of information by employees or any person capable of it, wherein if such vital information will be revealed it would hamper the progress of the company.
- Economic Espionage Act which considers acts of misappropriating or stealing trade secrets as a crime.
There is no specific rule mandating business individuals to comply with these rules. However, entrepreneurs are encouraged to avail of the protection as guaranteed by law to safeguard their rights over their intellectual properties and their business as a whole. Refer to the next tutorial for steps to safeguard your intellectual property rights.