Trademark, Patent, And Copyright: How Do They Differ?

Collectively known as intellectual property, trademark, patent, and copyright exist and are protected by law to give people recognition for their work and ensure, in most cases, financial rewards and the protection of business interests. These apply to models, designs, inventions, and literary and artistic works. Anyone planning to apply for intellectual property must distinguish among these three types.

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A trademark is meant to protect logos, trade names, and anything distinguishing products or services in the market. It allows the trademark holder both to use that trademark and prevent other individuals or parties from using it without authorization. It should be a distinct, easily distinguishable trademark and must be for commercial purposes. A trademark is important in ensuring that other businesses don’t take advantage of and ride on a company’s trademark for their own commercial ventures or to taint the image of the owner’s business.

A copyright provides permission to copy or reproduce, thereby protecting original work. A copyright holder, as a matter of rule the creator or author of the copyrighted work, can reproduce the latter and authorize others to do so. Copyrights apply to poetry and other literary works, software, lyrics of songs, graphic designs, films, etc. Remember that this intellectual property type applies to tangible, creative work, but does not protect ideas and inventions. A copyright is protected for the duration of the author’s lifetime and lasts 20 years after his or her death.

Patent is used for inventions and various applications improving existing processes. A person or group applying for a patent must display technical know-how of the invention or process and its application to the public. If you are an inventor, you have the sole right to a patent unless you apply for it jointly. A patent is granted for a distinctly new invention and lasts for a period of 20 years.

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