IPR is the most valuable asset for a software house. Every organization owned, develop and use its own assets.
Intellectual property rights include the following elements
- Confidential information
- Copy Rights
Confidential information is a combination of two words confidential and information.
Confidential means personal, secret, or intended to be kept secret, and Information is data that has some meaning for its receiver.
Its means all the non-public and business-related information that is either written or oral, disclosed or made available to the receiving party through any means of communication or observation.
Any category of information is use or disclosure by others is considered to be confidential and must be secure such as
- Personal confidences, trade secrets, and sensitive government information.
- Any or all information of which a computer scientist might handle in the course of his or her work.
- or all or any information of which a firm may want to protect against unauthorized
- The most significant element of confidentiality is that it helps to build trust. It actually allows for the free share of information between the client and worker.
- By protecting your customers, clients, and employee’s data, you are not only showing them a level of mutual courtesy, but you’re also accomplishing your legal responsibility to avoid sensitive information from being leaked.
- Confidentiality can enable a business to keep sensitive business information secret from the public and competitors.
- Confidentiality provides legal protection and options if another party does infringe on a patent.
Leakage of information
If confidential information cannot secure and protected, then the business can lead to the loss of business/clients.
We can say that confidential information can be misused to commit illegal activity (e.g., fraud or discrimination). These activities can in turn result in costly lawsuits for the employer.
Way to protect
There are the following ways to protect confidential information:
- There should be proper labeling.
- Insert non-disclosure provisions in employment agreements.
- Check out other agreements for confidentiality provisions.
- Limit access.
- Exit interview for departing employees.
- Consider notifying the new employer.
A patent protects all hardware that is used in the manufacturing process.
Government authority grant right or titles for a specific time period. It is essentially a sole right that excludes others for making, using or selling an invention.
So this right is given to the person who invents something. Through this right, the inventor has the right to use or exploit that invention.
- The monopoly given by a patent is so strong that the owner of a patent may exclude an independent inventor from the market.
- To challenge the patent right, it is very important that it should have better commercially desirable.
- Patents protect the invention of a person.
Criteria for patent
Before the invention is given patent right, it must fulfill the number of criteria set out for patent
- The invented product must be new.
- It involves unique product development with inventive steps.
- It is capable to fulfill industrial applications.
Copyright protects manual, computer programs, letters, and diagrams of the business process. An originator can print, publish, perform the material and also can authorize others to do the same.
Copyright can provide more protection as compared to any other intellectual property.
Copyright law gives six rights to its owner, which are the following
- The owner can copy the work.
- He/she may issue copies to the public.
- Work can be sent to the public by the owner.
- The owner can perform, play or show the work in public.
- Work broadcast.
- The owner can adapt work.
The act permitted copyright
To avoid the copyright breaches, some act was permitted, in 1988. These include the following points
- There must be fair dealing in business.
- Making backup copies of computer programs are necessary.
- Work should transfer in electronic form.
- De-compilation for interoperability.
- Error correction for reliability.
- To save the records, a database must be developed.
Trademark categorizes and separates the source of goods of one party from those of others. It could be a symbol, word, design, or combination.
A trademark helps people in identifying the products, that the business makes, from products made by another business.
Types of trademarks
There are following three types of trademark
- Descriptive Trademarks
Descriptive marks are a type of trademark that is usually composed of a word or words, describe a product, or identify the characteristics of a product, and these are generally considered weak marks.
- Merely Descriptive Trademarks
When a mark describes an ingredient, quality, characteristic, function, feature, purpose, or use of the specified goods or services of a product. It is known as merely a descriptive trademark.
- Generic Trademark
GT is a trademark or brand name that, because of its popularity or significance, has become the generic term for a general class of product or service. It is generally in contrast to the intentions of the trademark’s owner.
- Trademark protects brand names and logos that are used on goods and services.
- The trading name and brand logo are likely to be the focus of any registration applications for most businesses.
- A registered trademark can be exploited by the owner.
- The Registration process becomes easy.
- Unregistered rights can notice.
Registered trademarks last for ten years. It has only 10-year renewal terms. Between the 5th and 6th years of having a registered mark, confirm with the government that the trademark is still in use. Otherwise, the registration will be canceled.
It can last forever if you continue to use your mark and keep up with renewals.