Introduction

There are three types of intellectual property namely Trademark, copyright, and Patent. With the growing competition and awareness, many companies are laying stress on increasing the value of the intellectual intangible asset. Let us discuss the difference between them

Trademark

Meaning

It is a mark that may be a name, sign, logo, symbol, sound, graphic or any color combination. It represents the unique identity of a product/service/company. It gives the right to protect the name similar to your mark. Registered Trademark Company can seek legal help in case of infringement of the trademark. It is an asset that investors are interested and attracts more investors to the company.

Scope of Protection

Trademark can be protected under 45 different classes. Hence, the trademark registered under a particular class does not exclude the others from using the similar trademark under different unrelated class provided it is not confusing the customer regarding the ownership issue.

When You Need It

Trademark needs to be registered as early as possible, as the sooner you register the sooner your brand/product or service gains attraction and develop a customer base. If someone else registers with your brand name, then you may suffer a loss and have to change the brand name losing the retention of your original loyal customer.

Length of Protection

Trademark can be renewed after every 10 years.

Cost of Registration

Government fees for each trademark application are Rs. 4,000/- per class.

Copyright Registration

Meaning

Copyright is the exclusive right to do or authorization of doing the certain actions in respect of cinematography, literature, software programming, arts, drama, instrumental/musical work, or a sound recording. In order to take an appropriate action regarding copyright infringement,copyright registration is necessary.

Scope of Protection

The creator of work is the owner of the copyright and has a right to take necessary action against any work that is identical, similar or copied to its original work.

When You Need It

If you anticipate any sort of infringement, then the copyright of work becomes necessary so as to take appropriate action against a party e.g. in the case of photographers, authors of books or training material and many other creative professionals.

Length of Protection

They are valid for a life time and for next 70 years of the copyright owner’s life.

Cost of Registration

It differs from the different type of work to register for copyright. For e.g. it costs Rs. 3350 to register software code, but Rs. 8420 for movies.

Patent Grant

Meaning

It is an exclusive right approved by the government to the inventor of a product for his invention for a limited time period. This right excludes others from making, processing, producing using, selling, and importing the product or process, without his consent. Hence, the patent right gives the competitive edge to the company. It could be any food, chemical, color, software, process, method, mode, techniques, uniqueness in production, selling, any machine, apparatus, application, article etc.

Length of Protection

It is valid for 20 years, after which it is open to the public.

Cost of Grant

Government fees of around Rs. 10,000 along with the patent lawyer who will charge a fee around Rs. 10,000 to Rs. 15,000 summing an amount of Rs. 20,000 to Rs 25,000.