Intellectual Property (IP) is a novel creation of the mind that can be commercially exploited. It is important for the entrepreneur to seek legal assistance in understanding the basics of IP law to best protect their creations and ideas from being used, copied or otherwise exploited without proper permission.
Copyrights protect original works of authorship. With copyright protection, the holder has the exclusive rights to modify, distribute, perform, create, display, and copy the work.
Trademarks are an effective communication tool. A trademark is a word, phrase, symbol, or design that distinguishes your products and services from those of competitors. Trademarks make it easy for customers to find you and are a valuable asset to the company.
A patent grants property rights on an invention, allowing the patent holder to exclude others from making, selling, or using the invention. Inventions allow many businesses to be successful because they develop new or better processes or products that offer competitive advantage in the marketplace.
A trade secret is a formula, process, device, or other business information that companies keep private to give them a business advantage over their competitors.
IP commercialization means turning ideas into business by transforming an idea or invention into a product or service for buying and selling. But the route to commercialization can be complex. Legal protection provides competitive advantages to IP owners and prevents competitors from exploiting the same without permission.
At Burgeon Law, we assist our clients in preparing a detailed commercialisation plan, defining and documenting the IP and its related commercial opportunities.