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What is intellectual property?

Whether you are creating a new business or simply expanding the reach and product line of an existing business in Florida, your company must often pay attention to intellectual property rights. The naming of a new product, for example, must be done carefully so as not to use a name that has already been trademarked by another company. Such situations may result in a legal intellectual property dispute.

The World Intellectual Property Organization indicates that there are multiple types of intellectual property. These include patents, trademarks, copyrights, industrial designs and geographical indicators. If you are the owner of any of these types of intellectual property, you or your company are granted the right to benefit from your investment or work in a certain area. In the case of patents, this right is generally granted for a limited period of time only.

A patent is given for a specific invention, often a scientific one. A trademark may apply to your business’ name or logo. A copyright can be issued for creative works and writings produced by your business. If others utilize your work without proper authority or citation, you may have legal recourse against them. For the purposes of intellectual property, a musician or artist can hold the copyright to their work. For the purposes of a commerce-based business, the development of a new technology can result in the granting of a patent.

This information is not intended to provide legal advice but general information about intellectual property and associated rights in Florida.

 

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