Every human being has ideas, and many people have a job that involves bringing their ideas to life through creation. All types of creation by a person that is not material is a type of intellectual property, and some intellectual property is extremely valuable. Intellectual property could take the form of song lyrics that have the potential to be a big hit or a piece of research into a new form of technology that can be made possible.
When you have a valuable piece of intellectual property, you should make sure that you take action to protect it legally. You could do this by filing for a patent, a trademark or ensuring that it is a trade secret or copyright. If you are concerned about intellectual property infraction, the following is an overview of some of the most common forms that you should watch out for.
Counterfeiting copyrights or trademarks
One of the most obvious examples of counterfeiting is the copying of designer logos on handbags for sale in marketplaces. Counterfeiting is an example of a person intentionally copying some element of copyrighted intellectual property and monetizing it due to its intrinsic value. If you can show that another person has intentionally stolen your intellectual property so that they could monetize it, you will be able to take legal action accusing them of counterfeiting.
Infringement of patent rights
If you have a registered patent, there will be specific terms and time limits regarding when or how competitors can use your intellectual property. Patent law can be extremely complicated. Therefore, if you believe that your intellectual property has been stolen through patent infringement, it is important that you take action to understand how the law applies to your situation.
If you are a business owner or a sole trader, your intellectual property will make up a huge part of your ability to earn an income. It is important that you protect your intellectual property and that you take action if you believe that your intellectual property has been infringed.