Intellectual property (IP) is creations of the mind, inventions, literary and artistic works, designs, symbols, names and images used in commerce. Protecting IP is important to promote innovation. It also ensures that inventors and creators are rewarded for their contributions.

Here are some of the various ways by which you can protect your company’s IP:

Trademarks

A trademark is a sign, symbol or expression that identifies products or services of a particular source. It differentiates your goods from others, so your brand identity is protected. Trademarks can be used to build brand loyalty and recognition.

Registering a trademark can be time-consuming and expensive but it is necessary. It is always recommended to always monitor the market for unauthorized use of your resources. Use trademark symbols (™ for unregistered, ® for registered) to stake your claim. 

Patents

A patent is an exclusive right granted for an invention, so the patent holder has the right to prevent unauthorized use, production or sale of the invention. Patents are important to protect your technological innovations. They give you a market advantage by preventing others from copying your inventions. Do a thorough patent search before filing to ensure your invention is new.

Copyrights

Copyright is a legal right that gives the creator of the original work the exclusive right to use and distribute. It protects art, literature and musical works so creators get paid for their intellectual property. 

Copyright arises automatically when a work is created and is essential for creative professionals. Register your work with the Copyright Board of India to strengthen your protection and make enforcement easier.

Contracts and Agreements

Contracts and agreements such as non-disclosure agreements (NDAs) are legal tools that help protect your intellectual property by defining rights and obligations. They clearly define what is protected and the terms of use so you have legal appeal if the agreement is breached.

Drafting good agreements requires legal knowledge. It is always recommended to get a legal professional to draft agreements and contracts specific to your business. It is also important to regularly review and update contracts as your business evolves.