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Most Read: Contributor Luxembourg, November 2021 11 March 2021 Dennemeyer Group To print this article, all you need is to be registered or login on Mondaq.com. 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.Need help protecting your IP assets? What are the four types of IP?The vast majority of IP assets fall into four categories: patents, trademarks, copyrights and trade secrets.
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. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. POPULAR ARTICLES ON: Intellectual Property from Luxembourg IP Enforcement Manual Rouse A brief guide addressing common questions and concerns of the IP enforcement landscape in the Philippines. IP Valuation: How To Measure What You Cannot See Dennemeyer Group The value of Intellectual Property (IP) assets has skyrocketed in recent decades. In some cases, the worth of an organization's IP far exceeds that of its physical resources, property or other holdings. Types Of Trademarks: All You Need To Know Abou Naja As industries race to gain a legal monopoly on their unique innovations through marks registration, we are inundated with an ever-increasing number of products with UAE Anti-Counterfeiting Guide BSA Ahmad Bin Hezeem & Associates LLP This chapter forms part of the Anti-counterfeiting Law Over Borders Comparative Guide 2022. The Law Over Borders comparative guides provide essential information on law and legal practice across... What are the 4 types of intellectual property?Patents, trademarks, copyrights, and trade secrets are valuable assets of the company and understanding how they work and how they are created is critical to knowing how to protect them.
What are the 4 several ways to protect intellectual property rights?Copyrights, trademarks, patents, and trade secrets are the four primary types of intellectual property protection.
What are the key forms of intellectual property?The key forms of intellectual property protection are patents, copyrights, trademarks and trade secrets.
Which of the following is not one of the four key forms of intellectual property protection?Explanation: The four classifications of intellectual property are patents, copyrights, trade secrets, and trademark. Innovation does not belong to the forms of intellectual property protection.
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