Sitting in our conference room for our Monday morning meeting, our Law Clerk relayed a conversation she had with a few people over the weekend. When explaining to people that she worked at an “IP Law Firm,” she was astonished that a few people, both old and new generations, didn’t know what IP stands for, let alone what Intellectual Property is. That, we all agreed, was an important issue, and one that warrants discussion.

 

Intellectual Property is a creation of the mind. It’s “property” that has come exclusively from one’s “intellect.” Simple enough, right? Yet for some, it doesn’t make sense until they see it in action. And we want to remedy that. IP can include inventions; artistic and literary works; names; images and designs; and symbols. Intellectual Property is protected by law (ahem, pay attention here, this is what we do), which includes patents, trademarks, and copyright.

 

Intellectual Property needs to be protected, but first, understood. Trademark law seeks to protect the consumer from confusion as to the source of a product or service. It governs how the names, marks, sounds, colors, scents, and other commercial signals that businesses and individuals use to identify their products and services are protectable. Picture in your head the Pepsi-Cola logo. The patent grant is the exclusive right to exclude others from making, using, selling, offering for sale, or importing any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement of these. This exclusive right is granted for 20 years. Think: Alexander Graham Bell and the telephone. A copyright protects the expression of an original idea by granting the copyright owner the exclusive right to copy, make derivative works of, distribute, perform, and/or display that particular expression of the idea. This can include, to name a few, literary, musical, choreographic, sculptural and motion picture. Remember when Michael Jackson outbid Paul McCartney for the copyrights to the Beatles’ music?

 

Add to that the necessity of protecting yourself from infringement. If you were to create an app, gadget, or song, wouldn’t you want to not only monetize that invention, but defend it from being copied by someone else? If you have a unique name for your company, wouldn’t you want to register that trademark so others can’t steal it? Protecting your IP keeps you and your creations safe by providing you with legal rights. By understanding Intellectual Property and implementing legal in its safeguarding, you not only nurture innovation, you will undoubtedly ensure its success.