What is Intellectual Property and How is it Protected?
In today’s world of rapid innovation, change is the new normal
[ClickPress, Wed Jul 11 2018] In today’s world of rapid innovation, change is the new normal. With everyday developments and rapid strides in the way we interact and use technology and materials, maintaining the business edge depends not only on innovation, but also on taking measures to legally protect the innovative output.
Then arises the first question. What is intellectual property? In simple terms, intellectual property or IP refers to the intangible creations of the mind like inventions, process innovations, designs, symbols, works of artistic value etc. It primarily goes to encompass copyrights, patents and trademarks, but can also be expanded to include moral rights, trade secrets, rights against unfair competition etc.
The next important question is why should intellectual property be protected by a business or an individual? Some of the reasons for the protection of intellectual property is as follows:
• To differentiate a business, product or service from competition.
• To ensure that there is value to the intellectual work developed
• To achieve revenue by suitably marketing the intellectual property.
• To offer as collateral for loans
• To help with the marketing and branding activities.
Thus, as a basic premise, it is necessary that the new product or service be protected in some way legally, to prevent unethical parties from replicating the same. This idea of protecting the intellectual property can only be done legally and there are various options available, depending on what exactly is the intellectual property to be protected. Sometimes, it may be a patent, sometimes a trademark, slogan or logo. Sometimes, it may be a combination of the above.
Muthirai.com is a one stop solution for any trademark and intellectual property related registration and consultancy. With over a decade of experience in this domain, they bring deep insight and key know how to this niche. What differentiates them from other similar companies is the ability to understand the explicit and implicit needs of customers and deliver sound solutions that are legally compliant and absolutely transparent. Thus any business has a trusted partner in Muthirai in their aim to establish their identity firmly and grow to the next level, all whilst fending off competition and legally protecting themselves.