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Tangible assets like a house, jewellery, money, investments, car etc are not the only types of property that one can possess and claim safeguards under the law. There are other kinds of property too which are provided for by law and safeguarded within the legal provisions and these are termed intellectual property, which can be secured against exploitation by others. The three primary types of intellectual property rights are patents, trademarks and copyrights.

When an author has brought out an original composition, he or she holds the copyright over this piece and is granted ownership for them. Copyright safeguards all forms of artistic creations including melodies, films, videos, designs etc besides original writings. Under copyright law, the owner of the work gets a number of privileges which include monetary rights to income arising from the work and acknowledgement as sole owner of that work.

Trademarks afford intellectual property privileges which aim at preventing replication and violation of graphical representations registered by someone for his own products, and they help a customer easily identify the source of a product. Trademark protection gives the owner complete safety from unauthorised use of his own mark by others to mislead customers.

The third kind of intellectual property right, termed as patent, safeguards the rights of inventors in their novel and useful invention. Patents are valid for a predetermined period within which the holder can enforce his sole right to sale and use of his invention.

There are some more intellectual property rights too which are rarely registered and used. Some examples of other kinds are traditional knowledge possessed by inhabitants of a specific region that is distinctive only to that area; trade secrets that include company secrets, for example, KFC’s recipe; and geographical indicators that are a variation of trademarks used for merchandise arising from a specific part of the world, for instance Champagne.

These three types of intellectual property are quite distinct from one another for the most part but also have certain commonalities. Any of these are fully protected by the law and the rightful owner can take legal action to establish his right and claim compensation for any misuse.

Discover more about Trademark Registration Singapore and discover how does an Intellectual Property protection increase the net worth of your business very fast. You are welcome to reprint this article – but get your own unique content version here.

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