Common Myths About Intellectual Property

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Intellectual Property

Intellectual Property

Given intellectual property (IP), there are many myths and misconceptions exist such as who owns it, why it exists and what it can do. In order to not mistake the IP, it is very important to research and understandswhat IP a person or business owns, and why is it important for successful business interaction.

  • There is a general belief that a certain company owns an IP that anything created by that company’s employees or contractors comes under its ownership. The owners of the work have the full rights of ownership unless sucha situation involves certain factors. If an employee exercises his or her IP rights, there may be no need to take the permission of the employer company to go into the business about his or her work; the ownership is not transferred to the company. This problem may also require the need to have the assistance of an IP attorney.
  • Another myth about the intellectual property prevails that regardless of the fact where the owner is in the world, a patent protects his other work around the globe. In the US, the patent protects the work of companies and individuals. But when the business expands in other countries, there is a need to fill the patent applications in each country so that there are smooth business interactions and the work can be sold in those countries. Moreover, depending upon the area their patent laws are applied, which may be different and exclusive of the US regulations.

Myths about Trademark:

Many believe that what is applicable in the patent also covers trademark. However, trademarks are more complicated as a trademark can be registered in only one single state in the whole US or worldwide. When a business expands, it requires a careful checking the database of the country to find similar names, logos, symbols or even phrases. If a trademark already exists in a state, the new business has to register with a different and new item used.

For the global level, the owner has to submit applications for each individual country. Other countries have different trademark laws which may take more time to accept a certain trademark.

Online Scams:

There are various scams carried online through chats and emails. In order to steal login details, a hacker or criminal sends a certain website to login to. Although they look official and same as the actual site where the IP registration is done, however, these scams are easy to be recognized.

An email received has another website address where the details are stolen once the user tries to login. These are called ‘phishing’ attempt. It is very common to steal bank account information through such actions. Scammers also ask for small fees from every person that they send such emails to.

Copyright Symbols:

Unlike the pre-technological era, where a person’s work could be used without any repercussions, today work by a company or a person is protected. Even if a work does not have any copyright symbol,it is still safeguarded through copyright and the people who want to use it must contact the owner before its reproduction. Having failed to seek this permission, they violate intellectual property laws. This information can also be posted on the internet through legal sources.

Protection of Trade Secrets:

Another myth that most of the consumers believe in is that trade secrets are universally protected. But in fact, trade secrets IPs are not as safe as other items are. A trademark is registered, whereas trade secret has to be kept a secret with safeties placed on it when all prerequisites are fulfilled. It can be difficult to prove in the court through litigation which may create difficulties for the owner. A tradesecret is confidential and effective measures are taken to ensure the safety of the data.

Legal Assistance:

Seeking legal assistance from a skilled intellectual property lawyer becomes mandatory when it comes to taking action against the violators. Apart from it, the attorney also gives advice about protection of IP and how to keep it safe from infringement.

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