Definition and Examples of Intellectual Property Valuation Rights

 

Intellectual property rights are defined as any rights connected with intangible assets owned by a person or corporation protected against unauthorized use. Non-physical property, such as intellectual property valuation rights, is referred to as intangible assets. The following are some examples of intellectual property rights:

• Domain names Patents
• Design for industry
• Inventions using confidential information
• Right to morality
• Authorship rights in databases
• Service marks are used to identify products and services.
• Logos
• Trademarks
• Design licenses
• Trade names or business names
• secrets of the business
• Software for computers

Types of the Intellectual property:

Patents, trademarks, copyrights, and trade secrets are the four basic forms of intellectual property valuation rights. Intellectual property owners typically utilize many kinds of intellectual property legislation to protect the same intangible assets. The name of a product, for example, is protected by trademark law, whereas the slogan is protected by copyright law.

Patents:

From methods to machines, original innovations are granted property rights by the United States Patent and Trademark Office. Patent law protects inventions from unauthorized use and grants one or more inventor’s exclusive rights. Technology businesses often use Patents to safeguard their investment in developing new and inventive goods, as evidenced in the patent for the first computer. There are three categories of patents:

Design patents protect a device's or invention's aesthetics. The form of a product (the Coca-Cola bottle), emojis, typefaces, and any other distinguishing visual characteristics are examples of ornamental design patents. 

Plant patents are protections for novel plant types. Pest-free versions of fruit trees are one example of a plant patent. However, if the tree has unusual aesthetic qualities, the creators may want a design patient.

Utility patents protect a product that is helpful and serves a practical function. Vehicle safety systems, software, and medicines are all instances of intellectual property. This was the first and remains the most important subject of patent law.

Trademarks:

A corporation's logos, sounds, phrases, colors, or symbols to differentiate its service or product are protected by trademarks. The Twitter logo, the golden arches of McDonald's, and the font used by Dunkin' Donuts are all trademarks.

Copyrights:

The rights of the original creator of original works of intellectual property are protected by copyright law. Copyrights, unlike patents, must be enforceable. You can't copyright an idea. However, you can acquire copyright if you compose an original speech, poetry, or song.

The author immediately owns the copyright when they create an original work of authorship (OWA). However, registration with the US government is a must. The Copyright Office provides business owners a leg up in the legal system.

Secrets of the Trade:

Trade secrets are non-public, economically valuable, and information-carrying intellectual property valuation of a corporation. It might be a formula, a recipe, or a method for gaining a competitive advantage. Companies must actively try to safeguard proprietary information to qualify as a trade secret. When information becomes public, it is no longer protected under trade secret laws.

The assets might be material or intangible, and the knowledge in a trade secret can be:

• Business
• Financial
• Technical
• Economic
• Scientific
• Engineering

The Coca-Cola formula and Google's search algorithm are two well-known examples. Even though a patent is open to the public, trade secrets are only available to the owner.