Protecting Intellectual Property
Intellectual property provides an increasingly important part of a firm's business assets. Intellectual property protects brands, business reputations, works, inventions and designs. Intellectual property merits protections because it is usually the result of the input of significant skill, effort and investment. Trademarks provide a means to protect brand names, logos, distinctive marks for both goods and services. They are a powerful mechanism to protect goodwill. Registration is necessary to protect a trademark.
Even where there is no trade mark, the civil legal action for “passing off” entitles a business to prevent another business taking advantage of its goodwill and reputation.
Copyright prevents copying and misuse of work, usually in written form. Dramatic and artistic works are protected. In addition modern copyright legislation protects sound recordings, broadcast film, cable productions and a number of other rights of economic significance. Infringement of copyright entitles the owner of the rights to take legal action. Registration is not necessary for protection of copyright.
Patents protect inventions for a specific period, usually 20 years. It is necessary to register patents. Patents can be protected on a national or European Union wide basis.
Non disclosure agreements are a useful way of protecting confidential and sensitive information that is to be disclosed to some third party for a particular purpose. If the information is genuinely confidential and of value, the courts will enforce the agreement.
Design registration protects the design, shape and configurations of articles. Certain classes of articles must be registered for protection whereas other classes are protected automatically.
Intellectual Property is largely protected on a national basis, so that it may be necessary to take steps in each country in which the business trades in order to ensure protection. However to an increasing extent, the European Union and other international bodies have promoted arrangements to secure protection on an international basis.
Contact(s):
Paul McMahon