Intellectual Property Synopsis
What is intellectual property?
Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.
Intellectual property is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright, which includes literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs. Rights related to copyright include those of performing artists in their performances, producers of phonograms in their recordings, and those of broadcasters in their radio and television programs.
The value of Intellectual property
Generally accepted accounting practices have defined business's tangible assets without consideration for the intangible assets that form the foundation upon which the business is built.
Given that the right, title and interest in and to all Intellectual Property (IP) can be registered, protected, enforced and assigned then accountants must recognize that the IP has value to not only the corporation but also to anyone outside the corporation who is examining the gross worth of the business or considering an investment or loan. If intellectual property is an asset then it should have a value that can be measured. This section was designed specifically for accountants.
Intellectual property (IP) can allow you to own things you create in a similar way to owning physical property. You can control the use of your IP, and use it to gain reward. This encourages further innovation and creativity.
As well as an assessment of the owners proprietary right, title and interest in and to, any registered or unregistered trademarks, copyrights, industrial designs, patents, trade secrets or computer software developed for the business.
One of the observations of this form of valuation is a clear understanding of the proprietary rights the owner possesses in his goodwill and his ability to transfer his proprietary rights, complete with the value that has accrued, to an assignee.
The four main types of Intellectual property
1. Trademarks: Trade Marks protect signs that can distinguish the goods and services of one trader from those of another.
2. Designs: Designs protect the visual appearance or eye appeal of products.
3. Patents: Patents protect the technical and functional aspects of products and processes.
4.Copyright: Copyright protects material, such as literature, art, music, sound recordings, films and broadcasts.
However, IP also covers trade secrets, plant varieties, geographical indications, performers rights and so on.
Often, more than one type of IP may apply to the same creation
Trademark
Ordinary marks are words and/or symbols that distinguish the goods or services of a specific firm. Certification marks identify goods or services, which meet a defined standard set by a governing organization. Distinguishing guise identifies the unique shape of a product or its package. To register trademark, there's seven step for registration process, trademark design ★ trademark search ★ application ★ acceptance ★ substantive examination ★ publication ★ registration.
Patent
Generally speaking, regarding the duty invention creation, the application patent right belongs to the invention creation to complete the unit; regarding the non- duty invention creation, the application patent right belongs to the inventor or the designer. The unit or the person completed of invention creation through the contract to assign their patent application. China's patent, including the invention, utility model and ornamental design.
Copyright
Copyright is the exclusive right to copy a creative work or allow someone else to do so. It includes the sole right to publish, produce or reproduce, to perform in public, to communicate a work to the public by telecommunication, to translate a work, and in some cases, to rent the work. Copyright applies to all original literary, dramatic, musical and artistic works. These include books, other writings, music, sculptures, paintings, photographs, films, plays, television and radio programs, and computer programs. Copyright also applies to other subject matter which includes sound recordings (such as records, cassettes, and tapes), performers performances and communication signals.
Intellectual property protect
Protecting your intellectual property (IP) allows you to manage how it is used and who uses it. The type of protection you need will depend on what you are protecting and how you will use it.
Benefits of IP protection
IP protection gives you exclusive rights, making it easier to stop other people from copying or using your IP without your permission. Intellectual property (IP) protection gives you exclusive rights to your IP.
If someone uses your IP without permission, that is they infringe your IP rights, you can take legal action to stop them. If you do not want to use your IP yourself, you can sell it, just like physical property. However, once you have sold your IP, you cannot use it unless you get permission, known as a licence, from the new owner. If you want to let other people use your IP, but you want to keep control of it, you can licence it to one or more people.
You should also consider confidentiality, enforcement of rights and insurance, which can also help you benefit from your IP.
TANNET's business on Intellectual property
Tannet Intellectual property Service Centre, which provides kinds of professional services for intellectual property, including: trademark registration (including China and aboard) , and Trademark assignment, Trademark auction, and copyright registration, Patent application, Patent protect, Domain Name registration,intellectual property Protect, Patent, Brand-name registration, Brand promotion, etc. To transaction any operation, contact us for more detail.
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