Intellectual Property Law
In much the same way that people own physical property, they can also own innovations. The field of intellectual property law is fairly new and includes such areas as copyrights, trademarks, patents, and trade secrets. More specifically, intellectual property law can cover trade names, company logos, and company slogans. An intellectual property attorney aims to protect your rights in this area, as well as to make sure you don’t inadvertently infringe upon the property rights of others.Areas of Intellectual Property Law
The following are the most common areas of intellectual property, or IP, law and their descriptions:
- Copyright – This involves such materials as music, literary works, films, sound recordings, software, and other multimedia creations.
- Trademarks – A company’s identifying symbol, trademarks are also referred to as branding. Trademarks can exist so that many companies can compete in the same arena while maintaining their individuality.
- Patents – This refers to securing the rights to a particular product invention. An agreement is offered by the government to grant the manufacture and sale of a product for commercial gain.
- Trade Secrets – Closely related to patents, this refers to unique processes, formulas, devices, or any other information related to a particular product that is not generally known by the public.
The Role of IP Lawyers
IP lawyers are crucial to performing the following functions:
- Review business plans, including the research and development budget
- Handle licensing and agreements
- Track company costs related to intellectual properties
- Assist in national and international trademarks and patents
Hiring an IP Lawyer
Since IP law often involves specific types of business, it is helpful to find an IP attorney with a technical understanding of your particular business. An IP attorney will assist in researching availability and selecting trademark names. He or she will carefully review all creative materials and seek protection as the law allows. IP attorneys also offer advice on related intellectual property issues that may affect you in the future. An IP lawyer will review joint venture agreements between you and other parties, and then advise you accordingly. He or she can work on your behalf to increase national or international presence, and will help you file forms, applications, and requests for information.
When searching for attorneys with this specialty, ask if they typically handle individuals, small businesses, or large businesses, and then choose the best one for your circumstance. Find out if the attorney works primarily in dispute resolution or in litigation. Resolving issues out of court tend to be more cost effective; however, large, complicated disputes may have to be resolved in court. Finally, ask about billing practices, experience in your particular area, and resolution approaches.
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