What kind of intellectual property do I need to protect my business?
Intellectual property is an important tool to help protect the creative works of your business from competitors. In New Jersey, intellectual property protection typically involves copyrights, trademarks, patents, and trade secrets. Copyrights protect the creative works of your business, such as writing, software, and recordings. It protects the expression of an idea, not the idea itself. Copyright protection does not require registration and applies as soon as the work is created. It lasts for the life of the creator plus 70 years. Trademarks are words, symbols, or designs that identify and distinguish your business from others. These include logos, slogans, and product designs. Trademarks should be registered with the USPTO and are renewable. Patents are exclusive rights granted for a certain period of time by the government. Patents protect the invention of a new product or process. It should be noted that not all ideas can be patented. Lastly, trade secrets are confidential information that provides a business with an economic edge. These could be recipes, customer lists, business processes, etc. Trade secrets are protected by non-disclosure agreements and are limited to information that is not publicly available. Intellectual property is an important tool to help protect the creativity of your business. It is important to understand the different types of intellectual property that can be used and what kind of protection they offer. Business owners should also consult with an attorney to be sure that their intellectual property is protected and registered properly.
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