Intellectual Property Rights (IPR) Protection

In business, it is not only physical or tangible assets which need protection. A lot of intangible assets also must be safeguarded, because if some of company’s vital secrets are known to others and are used by them, it may very severely affect the business adversely. The brand names, designs, unique business processes etc. are parts of the intellectual property of a company which must be protected such that they cannot be used by others without proper permission and consent. Intellectual Property Rights (IPR) protection is assuming more and more importance in today’s knowledge-based and globalized business environment. The company must try to extract maximum value from its IPR and prevent its unauthorized use by others.

Following are the various ways IPR are protected:

Copyright

• Any literary or artistic work, software, music etc. should be protected through copyright.
• It protects us against any unauthorized copying, duplication, resell, distribution etc. of our work.

Trademarks

• If you have a unique brand, a logo or a slogan which identifies your business, it eventually gets associated with the identity of your business. No one else should be able to copy it.
• The purpose of trade mark protection is to stop other businesses imitating us and confusing the customers by keeping a trademark similar to ours.
• A trademark is generally classified as a word-mark or a logo.
• Our brand names, taglines, slogans, must be registered under trademarks as word-marks.
• If our logos or symbols are unique and we wish to protect them, too, to avoid copying, then they must be registered under trademarks as logos.
• Generally, as soon as our application is submitted to trademark authorities, we can write TM next to our brand name. Registered mark (R) can be used when the trademark registration is granted to us.
• It is advisable to search for the availability of a trademark before we choose it as our brand name. Also, we should register it before starting its widespread use.
• Preserve the proof of use of the trademark with dates to prove our right over it.

Industrial Designs

• Every physical design or external appearance of a product which is our unique creation can be registered under Industrial Designs in India. Check for the corresponding registration options in other countries, through a competent IPR attorney or advisor.
• This can prevent others from making a copy of our products through identical designs.

Patents

• If we develop any unique processes, methods or inventions which are novel, non-obvious and useful, they can be protected as patents.
• Others can be prevented from using the same.
• If others wish to use the same patented method, they can do the same by obtaining authorization rights from us by paying us royalty for the same.

Remember the Following for IPR Protection

• The registration of various types of IPR is not compulsory, but it is advisable to avoid future problems.
• All types of IPR registrations are valid for certain number of years. They must be renewed periodically. Regular review of the IPR status will ensure this.
• We must display the IPR ownership (TM, Copyright, Patent etc.) in all our external communications to safeguard the same.
• We should keep all our IPR records updated. All the relevant documents must be kept in easily accessible way somewhere. Assign the responsibility related to keeping the IPR records and updating the same to someone in the company.
• The IPR can be applied for national or multinational protection with varying conditions and restrictions.
• Take the help of a good Intellectual Property lawyer or advisor to help you in the IPR protection process.

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