When you have an interesting idea for a product or service, there will always be people who will want to duplicate your ideas and sell as their own. To avoid it you must protect your intellectual property. In this sense, we might remember this proverb: “The right thing should be in the right place”.
Intellectual properties are creations of mind: inventions, literary, artistic works, and symbols, names, and images which are used in commercial aims. It has four types each of them has its rights of protection.
- Trademark is a design, symbol, words which represent the products and services of a company. A company can register its trademark if it’s available. Besides, it is a way of distinguishing brands from one another.
- Patent doesn’t let others use, sell your intellectual property. If your patent expires, others can create their products.
- Trade secret can be anything unique which belongs to your business. For example, marketing strategy, ideas, and sales methods can be kept as a trade secret.
- Copyright saves the work of authors or artists from infringements.
Here are the main points about the importance of protection.
Your intellectual property rights are important because they can:
- distinguish your business from competitors
- be sold or licensed
- offer customers something new
- form an essential part of your marketing or branding
The protection of your intellectual property can prevent its loss. For instance, if you have a small business, it’s very important to protect any unique products or services that you own.
The protection of Intellectual Property Rights in Armenia and all over the world is important for the economy and in areas such as research, innovation and employment. as well as for foreign businesses who want to protect their IP on the area of RA. IPR enforcement is also essential to health and safety. If intellectual property is not protected, there will be no motivation for creativity and it will prevent the development of society.
If you have questions, please contact us. Arag will help you with its quality services.