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What are the 4 Types of Intellectual Property?

Know in this Blog What are the Four Types of Intellectual Property?

What is a Trademark?

A trademark is a design, symbol, word, or phrase that differentiates one product from another. Any business can acquire a trademark by registering it. Registering your brand is crucial nowadays. Now every business wants to register their brand, and the brand should be unique and different from other brands. So, that brand can make a unique difference. If any business wants to register the brand, it can do so by creating a unique logo, a unique word name, or a unique phrase. Which is different from other brands. 

The process for registering a trademark is very simple. Once any symbol, mark, or phrase is registered, any business cannot use that mark without the consent of the person or entity in whose name the mark is registered. Once any person registers that trademark, they can use it as long as they are doing their business, and once the trademark is registered, it needs to be renewed every 10 years.  There are very famous brands in India that we can distinguish. By just looking at their logo or slogan, for example, we can recognize McDonald by just looking at their M symbol, or we can recognize Starbucks by just looking at their logo. So, the trademark makes a difference in your brand. People, just by looking at the BMW logo, recognize the car.  

In today's world, people are not buying things; they are buying brands. A brand is a status symbol in society. We just purchase branded things to flex around people. If the brand is registered, then no one can use the same thing on their product. The government fees for registration of trademarks are Rs. 9,000/-, and if any business or person is registered under micro, small, and medium enterprises (MSME), then the fees for Udyam registration are reduced from Rs. 9000/- to Rs. 4500/-. 

Once the mark is registered, they can use ® with their brand name or logo. A trademark can be arbitrary, generic, suggestive, descriptive, or coined. A generic trademark is like using the product name, for example, chili. An arbitrary mark is a mark that exists in the popular vocabulary but there is no logical relationship of arbitrary mark with the product or service. A suggestive mark is a mark which suggests the characterstics of the product. A coined mark is a mark that is a combination of two words to make one unique word. A descriptive mark is a mark that describes the main characteristics of the product or service.

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What is Patent?

Any person can take patent protection on any invention that is created by that person, and that invention must be unique and useful for society. If any person uses that invention for their own benefit and takes money out of it, the person in whose name that invention is patented can sue another person for using their invention. without their consent.  An invention must be unique and useful for society, and it can create a very profitable business through that invention because the invention is useful for society and society can take benefits from that invention. That invention must be different from any other invention in the marketplace. A patent is like giving a monopol to the person who invented that product. Patents are governed by the Patent Act, 1970. Invention can be any machine- art method of manufacturing or any process of manufacturing. That invention was not a contract under any provision of law.

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What is Design?

Design is governed by the Design Act of 2000. Design product any work design that is aesthetic or unique. Design can be on furniture or on any particular product or any article that differentiates that product from another product just through its design. For registration of a design, it must be original, unique, and different from others.Now, many people are purchasing products by looking at the design of the product. 

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These are the common types of intellectual properties which can be unique to protect the uniqueness of any product,  logo, word, slogan and phrase. Intellectual properties are just the creation of a human mind like an invention, symbol etc.Any business can make it profitable if the invention is unique and their service quality is best, if the service quality or the product quality is best,  the brand image becomes good and with a good brand image people are more by their product or services because now they are not buying products they are buying brands.

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Updated on: 08 Apr, 2024 | 7 min read

Vanshika Gupta