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itors. However, obtaining a
patent can be a complex and
expensive process, and not
all inventions are eligible for
patent protection. Addition-
ally, patents are only valid in
the countries where they are
granted, so companies must
apply for patents in each coun-
try where they wish to protect
their invention.
Trademarks
A trademark is a symbol, word,
or phrase that identifies the
source of a product or service
and distinguishes it from those
of other companies. Examples
of trademarks include the
Nike “swoosh” logo and the
Coca-Cola name and logo. In
the United States, trademarks
are registered with the USPTO
and can be renewed indefinite-
ly, as long as they are still in
use.
To be eligible for trademark
protection, a mark must be
distinctive and not likely to
be confused with marks used
by other companies. It can be
a word, phrase, logo, design,
sound, or any combination of
these elements. A trademark
can help a company to estab-
lish a brand identity and build
customer loyalty.
Copyrights
A copyright is a legal right that
gives the creator of an original
work exclusive control over
how that work is used and
distributed. Copyright protec-
tion extends to a wide range
of creative works, including
literature, music, art, and
software. In the United States,
copyrights are registered with
the US Copyright Office and
last for the life of the creator
plus 70 years.
To be eligible for copyright
protection, a work must be
original and fixed in a tan-
gible form. This means that
the work must be recorded
in some way, such as in a
book, on a CD, or on a com-
puter hard drive. Copyright
protection gives the creator
the exclusive right to repro-
duce, distribute, and display
the work, as well as to create
derivative works based on the
original.
Like patents and trademarks,
copyrights can be valuable as-
sets for companies, particularly
those in the creative industries.
By protecting their creative
works with copyrights, compa-
nies can prevent others from
copying or distributing their
work without permission.
Conclusion
Intellectual property is an
important aspect of modern
business, as it can help compa-
nies protect their innovations
and establish a competitive
advantage. Patents, trade-
marks, and copyrights are the
three main types of intellectual
property, each with its own
set of rules and requirements.
By understanding how these
different types of intellectual
property work, companies can
make informed decisions about
how to protect their ideas and
creations.
IN THE MIND OF STARTUPS 21