Many very successful medium to large businesses started out small. As their business grew, they found it necessary to get patents, trademarks, and copyrights to ensure others didn’t infringe on their markets.
It’s important that before you invest the time and money in a name or product that you research to ensure that you’re not infringing on other’s rights.
Do you know the difference between a copyright, a Trademark, or a Patent?
- Copyright. A copyright is protection for literary, dramatic, artistic, musical, and other published or unpublished intellectual works. The current copyright law in the United States, generally gives the owner of a copyright the exclusive right to the use of the copyrighted work for his life plus seventy years.
- Patent. A patent for your invention is issued by the U.S. Patent and Trademark Office. A patent gives you the right to exclude others from making, using, selling, or importing your invention for a period of twenty years. If you are looking to obtain a patent, you are well advised to engage the services of an attorney.
- Trademark. A trademark (TM) is also known as a service mark (SM) when it refers to a service instead of a product. A “mark” can be a word, phrase, or symbol that is used to distinguish the source of your goods or services from that of others.
Just obtaining a patent, copyright, or trademark does not grant you the use of an Internet URL. You would be wise to secure your URL early on in the planning process.
To save yourself time and money seek legal assistance to protect your intellectual property rights.
At Summit CPA we offer multiple resources to keep your business on the right track. For more information, contact our office at 866- 497-9761 to schedule an appointment with out advisors.