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What is intellectual property?

There are many aspect of today’s business world protected and governed by critical laws. When problems like shareholder disputes, partnership disputes or alleged breaches of contract occur, these laws are called upon to help businesses in Florida navigate the situations. Intellectual property is another important part of business that is given legal protection and understanding the various forms that it takes can be important.

According to the World Intellectual Property Organization, any creative invention may be able to be considered intellectual property. The three most common forms of intellectual property include trademarks, copyrights and patents. Trademarks essentially delineate ownership, like the branding on a cow. When the accompanying symbol is used with an image or work, the world is informed that a particular entity owns that item. 

Copyrights are similar but are limited to artistic creations like music, paintings, writings and even software applications.  The use of these assets is restricted without proper consent. Any unauthorized use can result in disputes and even business litigation. Patents are issued to provide exclusive rights to one party for the production of specific inventions. Patent holders can also control the use, duplication or production of items by others.

Industrial designs like three-dimensional renderings in other communications and geographical indications that communicate where a particular product was made are lesser-known types of intellectual property delineations. Understanding these different types of intellectual property elements can help businesses to navigate potentially challenging situations. This information is not intended to provide legal advice but general information about intellection property in Florida.

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