Trade secrets, software, patents, and copyrighted works comprise intellectual property.
IP Blog / What are the four types of Intellectual Property and how do you protect them? March 10, 2021 Asking and answering the question, "What are the
four types of Intellectual Property?" in a comprehensive manner will ultimately lead you to the best practices for keeping your intangibles under lock and key. Intellectual Property (IP) assets are among the most valuable possessions of any organization. For many, these intangible properties are worth more than their tangible assets, including cash, liquid financial
holdings, buildings, equipment and land. Indeed, for most S&P 500 companies, tangibles comprise just 16% of their value, while intangibles such as IP rights and even more abstract resources like reputation constitute the remaining 84%. Though much less visible than physical security, IP protection is no less important for an organization with such assets. To
best ensure that these "gold mines" are fully safeguarded, it is critical to have a practical understanding of the four major types of IP. We will examine them here and address the proper protections for each.
What are the four types of IP?The vast majority of IP assets fall into four categories: patents, trademarks, copyrights and trade secrets.
How can a business protect its Intellectual Property? Many companies neglect to ask themselves this question in a timely matter and only realize its importance when significant infringement risks arise.
Key features of major IP assetsAll of the IP categories detailed above are governed by various guidelines in some form or fashion. Most often, these are codified in the laws of individual national jurisdictions. In the case of the European Union, regional regulations also apply, though deference will be given to member states' laws so long as they do not conflict or overlap with those of the wider block. Civil treaties administered by nonpartisan organizations such as the World Intellectual Property Organization (WIPO) and World Trade Organization (WTO) are also important; some have legal weight, while others oblige the member states to adapt their national laws accordingly.
The unauthorized distribution of information protected by non-disclosure agreements (NDAs) or confidentiality contracts could lead to civil suits filed by the secrets' originators.
How do you protect your IP?The phrase "You can never be too careful" applies perfectly to IP assets. Registering IP in every jurisdiction relevant to your business is key, especially for patents and trademarks, and entering into the WIPO's framework helps facilitate more far-reaching protection and save money. If you expect significant infringement risk in specific jurisdictions, obtaining registered copyrights is of additional benefit. Meanwhile, trade secrets must be secured with appropriate secrecy mechanisms, for instance, blockchain encryption, and covered by NDAs if they are to be shared for any reason. Timely renewal and upkeep (i.e., fee payment and declarations of use) are also essential protective steps with all registered IP rights. These should not be allowed to lapse without due commercial and strategic consideration. Furthermore, staying vigilant regarding all risks to your IP portfolio is crucial, which means more than just looking out for infringement and being abreast of regulatory trends. Issues such as the internal mishandling of your intangible asset portfolio could also endanger its value. An IP audit from Dennemeyer's impartial experts can help you assess the state of your IP and work procedures to mitigate or eliminate any liabilities that may be present. Get the updates in your inboxSubscribe to get the latest news and updates. Subscribe now! Which of the following describes intellectual property?Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.
Is a type of intellectual property theft that involves reproducing the words of another and passing them off as one's own original work without crediting the source?Plagiarism is presenting someone else's work or ideas as your own, with or without their consent, by incorporating it into your work without full acknowledgement. All published and unpublished material, whether in manuscript, printed or electronic form, is covered under this definition.
Which of the following is an accurate definition of scareware?Scareware is a form of malignant software (malware) that users are tricked or scared into downloading. Once activated, the software exposes data, deletes files, steals funds, or takes some other form of harmful action.
Which of the following is an accurate definition of digital rights management?Which of the following is an accurate definition of digital rights management? It refers to technologies that intellectual property owners use to control access to their digital content.
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