Intellectual Property Overview

Intellectual Property (IP)

• IP is an intangible asset that is a creation of human intellect.
• IPRs are legally awarded ownership rights to inventors.

Trademark

• Distinguishes products and services from competition.
• Examples: logos, word marks, taglines, jingles, colors, sounds, gestures, holograms, animations and shapes.
• Rights include exclusive usage, licensing, assignment, and selling.
• Valid for 10 years, perpetual upon renewal every 10 years.
• Symbols:
  • R - Registered Trademark
  • TM - Unregistered Trademark
  • SM - Unregistered Service Trademark

Copyright

• Automatically granted to authors upon creation of original intellectual work.
• Examples: books, literature, music, cinematography, paintings, maps, etc.
• Rights include distribution, public performance, lending, and audio transmission.
• Validity is the author's lifetime + 60 years.
• Registration is recommended, but not mandatory.

Patent

• Protection for new, original, and useful inventions.
• Rights include exclusive use and prevention of others' use.
• Validity is 20 years.
• Territorial right: separate registration required for each country.

Business Registration

Company: PVT/Ltd

• Registered under the Companies Act 2013.
• "Ltd" indicates a public company listed on the stock market.

Partnership

• Two or more individuals forming a partnership deed.
• Governed by the Partnership Act 1932.
• Partnership Deed regulates the rights and liabilities of all partners.

HUF: Hindu Undivided Family

• Family-based business where only blood-related family members can participate.

MSME

• Emerging business form with online registration portal: UDYAM.
• Registration is not mandatory, but highly recommended.

Business Plan

• Document describing a company's activities, revenue generation, and customer base.
• Internal use: Clarifies vision, organizes options.
• External use: Shares vision with lenders and investors.

Step 1: Executive Summary

• Summary pitch, includes:
  • Mission statement
  • Product/service description
  • Financial growth plan summary

Step 2: Company Description

• Basic information:
  • Registered business name
  • Business location
  • Key personnel

Step 3: Business Goals

• Objective statements outlining near-term and long-term goals.

Step 4: Products & Services

• Detailed description of offerings:
  • Functioning of products/services
  • Pricing model
  • Target customers
  • Supply chain and order fulfillment strategy

Step 5: Market Research

• Differentiates the company from competitors and includes:
  • Identifying competitors
  • Unique Selling Proposition (USP)

This quiz covers fundamental concepts of intellectual property (IP), including trademarks, copyrights, and patents. Test your understanding of these essential legal rights and their implications for creators and inventors. Explore examples and key terms to reinforce your knowledge of IP protection.