People have so many questions regarding IP, like who seeks this protection? What does it protect? What benefits does it give? How long does it last? So we are sharing with you all the answers to these questions explaining the difference between Trademark, Copyright an Patent.
- Business owners are given rights on their trademarks
- Trademark is essential as it protects any word, name, slogan, design, or image that identifies a business or brand and distinguishes it from others
- It also gives right to the mark and allows the holder to file lawsuit against infringers
- It has an unlimited term but must be renewed after every 10 years
- Creative artists are given copyrights for their creations
- Copyright is done to protect original work of authorship including books, articles, photographs and other creative works. An idea itself cannot be copyrighted. A work must be in fixed, tangible form to be protected.
- It gives right by providing legal evidence and public notice of ownership
- It Lasts the author’s lifetime, plus an additional 70 years
- Innovators are given patent for their innovations
- Patent protects original Inventions with a new or improved function like chemical composition, machines, new design for an article of manufacture
- It gives the owner right to prevent others from making, using, selling, or importing the protected invention
- It has a term of 20 years and it cannot be renewed