What are the Types of Intellectual Property (IP) Protection?
There are several types of Intellectual Property (IP) protection that entrepreneurs can leverage:
1. Patents: Patents provide exclusive rights to an invention, allowing the inventor to exclude others from making, using, or selling the invention for a specific period, typically 20 years. 2. Trademarks: Trademarks protect brand names, logos, and slogans. They help distinguish your products or services from those of competitors. 3. Copyrights: Copyrights protect original works of authorship, including literary, musical, and artistic works. This protection lasts for the life of the author plus 70 years. 4. Trade Secrets: Trade secrets include formulas, practices, processes, designs, or a compilation of information that provides a business advantage over competitors. Unlike patents, trade secrets are not publicly disclosed.