Intellectual property is one of the most important assets that a company has, but it’s also one of the most difficult to protect. Two specific types of intellectual property that business owners should be sure they keep well protected are patents and trademarks.
A patent protects inventions by providing exclusive rights to sell, use or make the invention for a specific period of time. This applies to new machines, processes and products. It can also apply to improvements that meet specific standards for usefulness and originality.
A trademark is a brand identifier that includes symbols, slogans, logos and names. The rights for a trademark are typically present as long as the trademark is sufficiently maintained and used.
Registration and enforcement differences
Besides the fundamental differences of patents protecting inventions for a specific period and trademarks protecting brand identifiers without a specific time limit, registration and enforcement are the primary difference between these. Obtaining a patent requires a detailed application that includes technical specifications. Trademarks only require proof of use in commerce and specific distinctness.
Patent owners can take legal action if they find unauthorized usage of the patented item or process. Trademark owners must take proactive steps to enforce their rights, minimize dilution and prevent infringement.
Protecting your intellectual property, including trademarks and patents isn’t a simple process. It’s always best to work with a professional who has a comprehensive understanding of how to provide proper protection. We’re here to help you protect this valuable asset, so contact us today.
