Intellectual Property Rights: What You Need to Know?

Invention is the core of every research and this is the reason for all research industries’ existence. If it was not for innovation, the field of scientific research is dead long time ago.

The thing is when you invent something, it doesn’t mean you’re all done with it. If your innovation is that great, then chances there are many individuals eyeing to benefit from it. Worse, they want to get it from you. Having said that, it is only a must to protect your ideas thus protecting your intellectual property rights.

Why you need to secure your Intellectual Property?

If you think your intellect is already protected the moment you published your work, think again.

Take this as an example:
Company X unearth a new drug to cure a viral disease; however, instead of filing a patent over it, they just published all their development. Then there’s company Y who found out about the said drug; they only made little modifications to the structure and patented it. And so, even if it was company X’s innovation, Company Y took it and gained from it.

Intellectual Property Rights: What You Need to Know?

Every innovator needs to understand the rudiments of of Intellectual Property (IP) to fully secure his hard-earned work and creation from what seems unfair competition in the research industry.

You can seek for professional advice from an IP law firm in the Philippines to aid you plan for your research success and avoid theft of your concepts and ideas.

What is Intellectual Property Right (IPR)?

According to World Intellectual Property Organization (WIPO), “intellectual property allows owners and/or creators, of patents, copyrighted materials and trademarks to benefit from their own work or investment in a creation.”

Article 27 of the Universal Declaration of Human Rights provides for the right to benefit from the protection of moral and material interests resulting from authorship of someone’s intellect – be it literary works, scientific or artistic.

IPR is what gives a sense of security that encourages flow of knowledge and information. It promotes innovation.

Also read: WordPress setup tips for professional lawyers, Attorneys, and Law Firms

There are four main types of IPR. These are:

1. Patent IPR

Patents grant property rights for an innovation. These allow holders to exclude others from creation, selling and usage of a certain intellectual property. Innovations allow various entities and organizations to succeed because they are the ones to develop new or better products and services/ procedures that offer competitive benefits in the marketplace.

2. Trademarks IPR

Trademarks are the words, phrases, symbols, or designs that distinguish the source of products (trademarks) or services (service marks) of a specific business from others, specially from its competitors. To certify for this, your mark should be distinctive.

3. Copyright IPR

Copyright secures original works of authorship. It is a law which “grants authors, artists and other creators protection to their literary and artistic creations.”

With copyright protection, the holder gets the exclusive rights for his works in regards to modifying, distributing, creating, displaying and copying. To pass under copyright laws, the innovation must be fixed in a tangible medium of expression, like words on a piece of paper or music notes written on a sheet. The moment a certain work gets created, the copyright exists. And so, its registration is voluntary.

4. Trade Secrets IPR

Trade secrets are devices, processes, formulas, and other business details and information that companies are keeping private for their advantage over their competitors.

It is quite different from other intellectual property types for individuals or businesses can’t obtain protection by registering their trade secrets. It may only take necessary steps to control disclosure and usage of the information. That being said, you need to limit the people knowing these secrets; you might be also needing to lock databases and get a list of who have the access in the room/s. This is crucial especially in case of leakage.

| About the Guest Author:

Guest Author
Edwin Deponte is a motivational writer who is also passionate about Social Marketing. He believes in others’ abilities and tends to bring out people’s hidden potentials through his words of inspirations and motivational articles.

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