Yes, many types of intellectual property, or IP, fall under the protection of an intellectual property lawyer. Toronto creations of the mind or original works of authorship include creative and intellectual works like designs, symbols, and commercial signs. Whether you’re into processes, machines, research and development, or fine arts, an intellectual property lawyer offers significant benefits.
Simple Ideas and Vast IP litigation
It is possible to find copyright protection or apply for a patent protecting a wide range of IP conceptions, from engineering inventions to plant breeders. Intellectual property falls under the definition of an intangible asset—a non-physical item that holds value or is owned and can be bought or sold. There are many IP types, including non-disclosure agreements, patents, trademarks, copyrighted works, and trade secrets.
IP laws aim to protect these intangible assets in much the same way as physical belongings. The legal policies protect Intellectual property from poaching for a period of time, creating an environment that encourages innovative ideas and intellectual rigour. Protecting the work before setting out to offer a product or service is a vital step in a successful venture, but how can you legally safeguard your ideas?
Canada works to protect your legal rights as an author and creator, so there are options for when you are getting sued or need to sue someone for intellectual property infringement. Do you have a new idea or creative work that you want to protect? Contact an intellectual property lawyer in Toronto today!
Is It Essential to Protect Original Work?
We live in a creative world fueled by constant innovation. Your creative works contribute to this environment and help it to thrive. When new ideas enter the market, people have the opportunity to consume these thoughts and products in a new and exciting way. The market is always looking for fresh, compelling designs, work, and ideas, and your original work can blossom in the right creative climate.
The modern economy is knowledge-based, so there is a significant value placed on intellectual property. Legally safeguarding your ideas allows your work to flourish, and original work is just as important as any physical asset. You put thought and effort into creating and developing your work, so why not ensure that it is yours to use and enjoy for a lifetime?
Safeguard Your Intellectual Property: Five Areas to Consider
Canadians can utilize a multitude of options to protect intellectual property, including patents, copyrights, trademarks, trade secrets, and industrial rights. IP rights apply slightly differently in each category, and a competent intellectual property lawyer like Shift Law will be able to offer guidance around the right legal protection options.
Patents
Patents grant inventors exclusive rights to their inventions for up to 20 years. It includes the rights to sell, make, distribute, and import these patented works. It is the most common tool for protecting inventions and provides ample incentive for inventors that want to receive recognition for their creativity.
You can leverage an IP patent by licensing it (allowing someone to utilize it for a fee or sell it entirely). It maximizes the profit potential and ensures you make the most of your invention. It is possible to keep an invention a trade secret, but a patent offers a far more competitive advantage and shows investors or shareholders your commitment.
Patenting an invention requires disclosing the full details of the design or work in published patent documents. You must also apply to the patent office detailing your invention (which will become public knowledge).
Copyrights
A copyright is an exclusive right to produce, reproduce, publish, or perform original work, also called the author’s rights. The works eligible for copyright are broad and may include literary, artistic, scientific, and dramatic bodies of work. The presiding copyright law acts in your defence when others try to replicate these works without permission.
In Canada, all original creative work is eligible for copyright. However, it is vital that you utilize this law to guard your ideas early on so that complicating factors do not enter the negotiations. International laws also protect copyrights, encompassing economic and moral rights worldwide.
- Economic rights refer to the control of distribution.
- Moral rights refer to the author’s rights and cover alteration of a work that might damage your reputation or acknowledgement as an original creator.
Trademarks
Company or brand identities fall under the protection of trademarks. It distinguishes a particular good from others, keeping in mind that the sign or symbol needs to be distinctive to be trademarked. The trademark might apply to words, letters, numbers, symbols, shapes, symbols, tastes, and smells.
One example of a famous trademark is the logo and brand name of “Coca Cola,” owned by the Coca-Cola Company. The trademark means that no other parties may use or copy Coca-Cola’s name or logo.
The owner of the trademark controls who uses the ‘mark,’ ensuring protection from counterfeiters and maximizing consumer trust in the brand. Trademarks are vital in the business world, with large enterprises often using them to develop a unique brand identity. In Canada, trademarks can be registered for ten years and renewed for another ten years.
Trade Secrets
Trade secrets consist of business information that derives value from being kept a secret. For the data to qualify as a trade secret in a legal setting, it must:
- have commercial value,
- be a secret, and
- have been subject to reasonable measures by the company to protect its discovery.
Trade secret examples include new technology development, original product designs, a perfect recipe, and customer data. In Canada, trade secret law is based on the common law framework.
Industrial Rights
Industrial intellectual property falls under an umbrella term in IP. It might include patents for inventions, industrial designs, trademarks, commercial names, geographical indications, and much more. A design must be original, new, and suitable for industrial production to qualify for protection by industrial rights.
For example, a well-designed product that’s visually pleasing is a vital offering in a competitive marketplace. Consumers enjoy appealing aesthetics, and industrial design rights offer a way to protect the elements that distinguish your product’s look and feel from similar items.
Wielding Intellectual Property as a Tool for Success
Many businesses are unaware that they have intellectual property. It’s crucial to speak to an IP lawyer as soon as possible about understanding the company’s IP assets and developing a robust strategy to protect them. A proactive approach is the best intellectual property strategy, no matter your company’s position within the business cycle.
An intellectual property strategy should be prepared well and ready to take your business to its highest potential. An effective IP strategy also involves monitoring competitors’ patents and trademark activities. These approaches optimize the impact of intellectual property on revenue, reputation, and relevance and equip you with an effective way to demonstrate your vision to investors, stockholders, and management teams.
