Trademark, Copyright or Patent?

Trademark, Copyright or Patent?

Posted on Jun 23 2023 by Ishita Sachdeva

Intellectual Property Law has been the fastest-growing legal specialty in recent years. It's obvious that without knowing if one's innovation or creative work is secure, a brand will likely not be invested in, thus hampering the growth of a business. As a result, good intellectual property laws and awareness of the importance of protecting intellectual property go hand in hand.

Trademark, Copyright or Patent?

There are three major types of intellectual property in India: trademarks,copyrights, and patents. Although each one offers different protections and can be used in different ways, people often confuse them. In this article, we'll explore these terms and discover their intricate differences.

What is a Trademark?

A trademark (also known as a brand name) in layman's terms is a visual symbol that one company uses on goods or services to distinguish them from those offered by other competitive brands. Words, logos, shapes, colors, sounds, slogans, gestures or a combination of these are all examples of what can be registered as a trademark.

What is Copyright?

Copyright is a right given by the law for creative, original or intellectual work. Copyright does not protect ideas or concepts. It is mainly used to protect creativity in books, lectures, dramatic and musical works, cinematography, drawings, paintings, photographs, illustrations etc. It is a right often assigned to artists, designers, dramatists, musicians, architects and producers of sound recordings, cinematograph films and computer software.

What is a Patent?

Patent is an exclusive right for an invention provided by the law for a limited time to the Patentee. By patenting an invention, the patentee is able to control the making, using, selling or importing of the patented product or process for producing that product without his/her consent. Something can be patented only when it is original, has an inventive step, and any type of industrial application.

THE DIFFERENCE:
TRADEMARKCOPYRIGHTPATENT
  • Trademarks in India are governed under the Trade Marks Act, 1999.
  • Trademarks ensure that the brand with which items and services are marketed is protected, which is eminently important to a company’s growth. It protects unique names that make a brand distinct from another. Trademarks can be names, slogans, logo, shape, color etc.
  • Protection of a trademark is limited to the country of registration, so it should be registered in every country where the protection is required individually. A trademark is valid for 10 years and can be perpetually renewed every 10 years.
  • Registering a trademark can take anywhere from 12 to 18 months, but once it is registered, the applicant has complete rights over the said mark. A registered trademark is represented by the symbol ® next to it.
  • Copyrights in India are governed under The Copyright Act, 1957.
  • Copyright secures creative or intellectual creations. It protects original creative works such as literary works, artistic works, dramatic works etc.
  • Protection of a copyright extends to most of the countries in the world and is valid for the lifetime of the author, plus 60 years after his/her death.
  • When an author creates a work in a fixed form, they immediately own exclusive rights to the copyright. Works that are not fixed in a tangible form of expression are not eligible for protection under the copyright law. For example, a choreographic work that is not recorded cannot be copyrighted. Hence, copyright protects works, that is expression of thoughts, and not merely ideas.
  • Patents in India are governed under The Patents Act, 1970.
  • Patents safeguard inventions that are beneficial to the world and have practical application. Its protection extends to works that are inventive and unique with some industrial usefulness. A patent not only aids the owner, but also gives a boost to the growth and development sector of the country where such invention is birthed.
  • Just like trademarks, patents are required to be filed separately for each country where the protection is required. A patent is valid for 20 years starting from the day the application is first made, within the territory of India.
  • On average, it takes around 2-3 years for a patent to be registered. However, as soon as the applicant files for a provisional patent, they can immediately stop anyone else from trying to obtain a right over the same patent.
CONCLUSION

Intellectual property is a valuable asset for any organization, and there are ample advantages of protecting Intellectual Property.

If you are planning to do business, it is important to know how to use, guard and enforce the rights over the Intellectual property that an individual or his business owns. Almost all businesses own some form of Intellectual Property which can be considered as a business asset, and often the success and profitability of the business is dependent on them.

Intellectual property rights may assist you in developing a business by licensing, selling, and even commercializing goods or services that are protected by any kind of IPR. This will lead to an increase in market share as well as higher profits. Having a registered and secured under the Intellectual property right can also raise the value of your firm if it is sold, merged, or acquired.

Each type of intellectual property has its own set of rules and regulations. If you're not sure how to protect your intellectual property, it's best to consult with specialists at Global Trademark Company - your remote legal team for all your legal needs!