Distinguishing Between Patent & Trademark
Ever since the dawn of humanity, the world we dwell in is largely driven by innovation. Today the importance of research & development projects that are primarily influenced by innovative ideas have grown globally. It has given rise to the emergence of intellectual property that makes a massive contribution in the success of such projects.
Now the term “intellectual property” is complex and vast. Along with intellectual property, the terms such as “patent tescil” or trademark are also associated. But in order to understand the difference between these terms, it is important to clearly understand what is meant by intellectual property.
According to the World Intellectual Property Organization (WIPO), the term “intellectual property” is defined as the creative results of the human mind that includes inventions, symbols, literary and artistic works, images and names that are utilized for commercial purposes.
The terms patent, and trademark are majorly used in context of intellectual property; however, you must know that the use of some of these terms may not correctly imply intellectual property.
Below we have made a segregation between these terms and how exactly they are used in the concept of innovation and intellectual property.
A patent is an exclusive legal right issued by the authority that enables the inventor to prohibit others from selling, producing or using it without their consent.
Who exactly can seek a Patent? What does it protect?
Designers and inventors can apply for a patent for their invention or creation. The patent safeguards the new and original invention created by the patent holder in an advanced operative way. This includes processes, chemical compositions, machines or new design for products.
Benefits of getting a Patent
Once the patent is issued the patent holder gets exclusive rights of preventing third parties from making, selling, using or importing the patented invention. The tenure of patent protection is 20 years from the date of issue. The provisional patent lasts for one year.
As per the WIPO a Trademark is basically a sign, symbol or logo that differentiates the products and services of one enterprise from another. Trademarks are safeguarded by the intellectual property rights.
Who exactly can seek for a Trademark? What does it protect?
Product or Business ownersare the ones that can file for a trademark. The trademark has the capacity of protecting a name, brand, tagline, slogan, logo, symbol, image or design that represents and identifies a company or business. And also distinguishes them from other contenders belonging in the same industry type.
Benefits of Getting a Trademark
One of the prime advantages of getting a trademark is that it provides the trademark holder the ownership of their goods and services. It is legal proof issued by the authority and the mark holder can sue the party in case of an infringement.
The trademarks that have been legally registered can use the symbol ®. The tenure of a trademark is unlimited however it is essential to renew the trademark every 10 years.
The two terms although quite often used in the same context, however, are greatly different from one another. Make sure to understand the two concepts thoroughly before you get started with the process of patent tescil or trademark registration.