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Intellectual property - IP: refers to the legal rights that protect creations of the mind, such as inventions, literary and artistic works, symbols, names, images, and designs. The four main types of intellectual property are patents, trademarks, copyrights, and trade secrets. These rights are intended to encourage innovation and creativity by allowing creators, innovators, and inventors to control and benefit from the use of their work. By granting exclusive rights, intellectual property laws incentivize creators to invest time and resources in developing new ideas and creations, which can contribute to economic growth and progress. If you would like to learn more about intellectual property, you can check out our article: <a href="https://easy-trademarks.com/blog/four-types-of-ip-your-startup-must-protect">Four Types of IP your Startup Must Protect.</a>

<p>A trademark is a type of intellectual property right that is afforded to brands in the form of a word, phrase, symbol, or design that identifies your goods and services and distinguishes brands from competitors. Read more on types of trademarks, how to protect them, and what rights you will receive. Trademarks include logos, names, phrases, sounds, colors, scents, and touch. They serve as a source identifier for consumers, allowing them to identify and associate a particular product or service with a distinct company. The product or service that the trademark is associated with is what is being established and distinguished by the trademark. So in simple terms, a trademark is a brand that is protected utilizing intellectual property law and identifies the source and quality of a product or service. A trademark gives you the exclusive right to use your mark and helps prevent competitors from using a mark that’s the same as or very similar to yours. For more information on trademarks and service marks, check out our <a href="https://www.easy-trademarks.com/blog/what-is-the-difference-between-a-trademark-and-a-service-mark">article</a>. Simply using a name, logo, or slogan in a business gives it some level of trademark protection, though these “common law” trademarks are hard to enforce and apply only in your immediate locality. You can get statewide trademark protection by registering your trademark with your state. But the strongest and most far-reaching trademark protection comes from registering your mark in the country you would like to operate in. Read more on why you should register your trademarks and trademark protection in the <a href="https://www.easy-trademarks.com/blog/federal-trademarks-vs-state-trademarks-vs-international-trademarks-in-the-usa">USA Federal Protection vs State Protection</a>.</p>

<p>A patent is a legal document that grants an inventor exclusive rights to use an invention. All patents are inventions, but not all inventions are patents. A granted patent allows inventors and innovators to prevent others from making, using, selling, or profiting from the patent without the proper approval for a specified period of time. For an invention to be considered a patent, it should be filed and protected with a patent office or a patent and trademark office, which is a government agency. Patent and Trademark Offices examine patent applications and provide legal protection for a new and useful invention or process. In order to be granted, a patent must meet specific requirements, including being novel, non-obvious, and useful. A patent is usually granted for a period of 20 years. The patent protection period usually starts from the date you first apply for patent protection. Patents are valuable assets for inventors and companies, regardless of the size. Startups and companies interested in innovation and disrupting markets usually invest in patent protection. Patents provide a competitive advantage and prevent others from copying or profiting from their innovations. If you need more details, you can check out our article about exploring the world of patent.</p>

Copyright (or author’s right) is a type of intellectual property and a legal term used to describe the rights that creators have over their literary and artistic works, ranging from books, music, paintings, sculpture, and films, to computer programs, databases, advertisements, maps, technical drawings, and certain other intellectual works. For someone to use a copyrighted work, they typically need to obtain permission from the copyright owner. This permission may come in the form of a license, which grants specific rights to use the work for a specified period and purpose. If someone uses a copyrighted work without permission, they may be liable for copyright infringement and have to pay damages to the copyright owner. The purpose of copyright is to promote creativity and encourage the creation of new works by giving authors the exclusive right to control how their works are used and distributed.

A geographical indication (GI) is a sign used on products that have a specific geographical origin and qualities or a reputation that is due to that origin. For a GI to function, a sign must identify a product originating in a given place. A geographical indication (GI) is a type of intellectual property right that defines a geographical source of a product or service by showing products with specific traits or a reputation that can be linked back to that location. GIs protect the standing of a product, such as a specific type of cheese or wine associated with a particular geographical region. The purpose of geographic indications is to guarantee to consumers that the product they are purchasing has specific qualities, characteristics, or reputation that are unique to the geographical region in which it is produced. GIs are protected under national or international laws, and their use is intended to benefit producers and consumers alike by ensuring that products are made according to specific standards and by promoting the value and identity of local and regional products. Check out our article about <a href="https://www.easy-trademarks.com/blog/why-is-brand-identity-so-important">brand identity.</a>

Trademarks and copyright are both forms of intellectual property, but they protect different types of assets and have registration requirements. Overall, copyright protects literary and artistic materials and works, such as books and videos, and is automatically generated upon the creation of the work. A trademark protects items that help define a company brand, such as a business logo or slogan, and requires more extensive registration through the government for the greatest legal protections. Trademarks protect brand names, logos, and other marks that identify and distinguish the source of goods or services, while copyrights protect original creative works of authorship, such as books, music, and artwork. The main difference between trademarks and copyrights is the type of intellectual property rights they afford. Trademarks are used to protect the branding and reputation of a company or product, while copyrights protect the creative expression of an idea. Trademarks provide exclusive rights to use a distinctive mark with goods or services, while copyrights give exclusive rights to reproduce, distribute, and display creative works. While both trademarks and copyrights are valuable forms of intellectual property, they serve different purposes and protect different types of creative works. <a href="https://www.easy-trademarks.com/blog/four-types-of-ip-your-startup-must-protect">Read more about other types of IP and how to differentiate them</a>.

According to Merriam-Webster’s dictionary, goodwill is 1. “The favor or advantage that a business has acquired especially through its brands and good reputation. 2. The value of projected earnings increases of a business especially as part of its purchase price. 3. The excess of the purchase price of a company over its book value which represents the value of goodwill as an intangible asset for accounting purposes.” From a trademark perspective, goodwill is interchangeable with reputation and represents the consumer’s willingness to purchase a good or service over and over again. Trademark goodwill is the positive association that consumers have with a brand, which can include the brand's reputation, customer loyalty, and market share. Trademark goodwill is important in several ways. First, it represents the value of a company's brand and can be a valuable asset on its balance sheet. Goodwill can be an indicator of a brand's reputation, and it can increase the overall value of the company. Second, trademark goodwill can act as a barrier to entry for competitors. If a brand has established a strong reputation and customer loyalty, it can be difficult for new competitors to enter the market and compete on an equal footing. Third, trademark goodwill can help a company expand into new markets or product lines. If a company has established a strong brand reputation, it can use that reputation to build trust and credibility with consumers in new markets or with new products.

A service mark is a form of intellectual property protection. The mark prevents competing businesses from using names and insignias that could potentially confuse consumers. Unlike trademarks, which identify the source of goods, a service mark identifies the provider of a service and may consist of a word, phrase, symbol, design, or some combination of these elements. A service mark is a type of trademark used to identify and distinguish services provided by an individual or business. It can be a name, symbol, or other identifier used to represent the source of a particular service. Service marks are valuable for companies because they help to build and protect the brand identity of a service. A service mark is different from a trademark, which is used to identify and distinguish goods. While a trademark identifies a product, a service mark identifies the source of a service. By establishing a service mark and registering it with the appropriate authorities, businesses can differentiate themselves from competitors and build a reputation for quality and reliability. <a href="https://www.easy-trademarks.com/blog/what-is-the-difference-between-a-trademark-and-a-service-mark">To Read more about the difference between service marks and trademarks can be explored.</a>

A trademark is a word, phrase, symbol, or logo used to brand, identify, and distinguish a product. A service mark (or servicemark) is a word, phrase, symbol, or logo used to brand, identify, and recognize a service. The TM and SM designations are placed with trademarks and service marks to show that the owner has started the registration process. Both trademarks and service marks serve the purpose of protecting the brand and reputation of the mark holder and helping prevent others from using the same or similar marks for similar products or services. The legal requirements and processes for obtaining trademark or service mark protection are similar. However, the registration process may vary slightly for trademarks and service marks. <a href="https://www.easy-trademarks.com/blog/what-is-the-difference-between-a-trademark-and-a-service-mark">Further extensive analysis on the difference and impact of registering a Service mark vs a trademark can be accessed.</a>

A word mark is a trademark typed in standard characters without regard to font, style, size, or color. In a trademark application for a word mark, you are essentially seeking registration of the wording (or lettering) without regard to its style, design, font, or graphic features. In other words, you are protecting the phrasing, not the logo.