How patents differ from other types of intellectual property

A business typically will have many tangible assets like cash, products and property that are legally protected from theft. However, in addition to these tangible assets, there are many aspects of a business that are intangible but extremely valuable to both the company and its competitors.

These intangible assets can include the company brand and reputation. These might be portrayed through visual branding, catch phrases and logos. In addition, consumer loyalty and reputation can also be strongly linked to the quality of services that the company provides. When a company wants to keep an invention or a service quality competitive, they may decide to apply for a patent.

What are the benefits for patent holders?

While a copyright or trademark prohibits other companies from branding or marketing themselves in a certain way, patents tend to address the specific service or product being sold. When a person has a patent on an invention, it means that others people are prohibited from making, using or selling that invention for a specific period of time afterward — usually a period of 20 years.

There are several types of patents. Design patents are concerned with the finished design or appearance of a product, while utility patents deal with the invention of new machines or manufacturing processes.

In some instances, it may be necessary for an inventor or business owner to hold both a copyright and a patent in order to be fully protected under the law. If you want to know more about intellectual property in Georgia, it is a good idea to conduct thorough research.

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