What is Intellectual Property?

It’s a rule of thumb that the unique creation of a human mind should be properly protected, because after all, what’s the point of creating something if it is not well-secured? That’s why all of us have intellectual property rights, which are protected in different ways, and of course, on different platforms.

So, as you can already presume, intellectual property refers to inventions created by people. It can be a work of art, a business name, business logos, and all that jazz. Thus, if you want to make the best out of your ideas, work, and efforts, your intellectual rights should be always kept in a safe place!

Intellectual property has a complex structure, and includes different categories. Therefore, by saying intellectual property rights, people often understand copyrights, patents, trademarks, franchises and so on. Now, let’s dive in the details, and understand why we need so many types of IP.

Copyright

With the help of copyrights, author of the “work” has the opportunity to make use of, copy and duplicate their works; and what’s more important, they can authorize certain people to use them. So, if you are a book author, you will protect your production, for example, a newly written novel!

Patent

According to United States Patent and Trademark Office, a patent is “the grant of a property right to the inventor, issued by the United States Patent and Trademark Office.” If you want to protect your creation, especially for a long period (normally 20 years), a patent is definitely needed.

Trademark

When saying trademark, people usually connect it with a brand, and technically, they are not wrong. A trademark is a unique and a distinguishing sign that protects your name, logo and other attributes from others and  helps your brand become prominent. For example, Nike is famous not only for its products, but also for its logo (Swoosh), which shows motion and speed. The Nike Swoosh corporate trademark was created in 1971, and only Nike has the legal right to use it. If somebody else does, the company can file lawsuits against them.

These are the main three types of Intellectual Property, but the list is not exhaustive, of course. There are other types of Intellectual Property as well. For example, franchises, trade secrets, and so on. If you are selling on Amazon, you have to gain enough knowledge concerning Intellectual Property; otherwise, you will face an after-effect in the shape of an Amazon account suspension! No worries, though! We at Got Suspended? can help with that!