Globalization is a formidable phenomenon that has changed the way businesses operate. Today, businesses have to ensure that they are innovative and constantly improvise their business strategies to remain competitive. This is even more significant for SMEs, due to the highly competitive environment. As such, they need to learn how to protect their ideas.
In today’s article, we discuss the 4 types of intellectual property that companies in Singapore should know about.
1. Patent
A patent is a right that is assigned to an invention. It may be communicated as a new process, product, or technological advancement to current technology. Once you have registered for a patent, you are entitled to exclusive rights to utilize the patent. Without your permission, no one is allowed to make use of the patent as they are protected for 20 years from the Date of Filing and are renewable annually.
To find out more about patent registration, click here.
2. Trademark
To find out more about Trademark registration, click here.
3. Copyright
A copyright safeguards original products from being exploited by novels, films, plays, paintings, computer programs, and music pieces. If you have registered for a copyright, you will have authority over its usage and commercial exploits. This prevents others from reproducing, performing, publishing, or adapting your work without your permission, leading to copyright infringement. To obtain consent from copyright owners, the owner must be directly contacted to negotiate for license or to obtain one through the collective management organisation.
To find out more about copyright, click here.
4. Registered Design
A registered design refers to the features of a shape, pattern, configuration, or ornament that grants the article or non-physical product its appearance when applied. Once you have registered, you gain protection of the external appearance of the article or product. You would also have the authority over its usage and exploits. This would also safeguard your market interests by preventing others from copying and the advantage of exchanging licenses for capital.
To find out more about registered design, click here.
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