New York City Intellectual Property Lawyer
The Nike swoosh symbol. The Coca-Cola recipe. “Shape of You.”
What do the above have in common? They are all protected by different types of intellectual property (IP) laws. When establishing a startup or running a well-established business, it’s hard to overemphasize the importance of IP law. Picture the design of sweat-powered smartwatches. Or the formula for a new drug lessens the effects of cancer. Or a new song or book. Or the slogan for a business. Protecting such assets falls under intellectual property law.
Intellectual property is an essential asset for investors and companies. Establishing IP rights is a vital component of business in the 21st century, and working with a New York City intellectual property lawyer can help protect such rights.
Types of Intellectual Property
The World Intellectual Property Organization (WIPO) defines intellectual property as “creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.”
On the other hand, the World Trade Organization (WTO) describes intellectual property rights as “rights given to persons over the creations of their minds.” They give the creator exclusive rights over the use of their creation for a certain period of time.
Intellectual property is an intangible asset owned and legally protected from outside use without consent. The concept of intellectual property refers to the fact that certain creations of human intellect should be protected in the same way as tangible assets like physical property. IP consists of many intangibles, with the common ones being:
A patent is an exclusive right granted to make or sell an invention, which is a process that offers a new technical solution to a problem or a new way of doing something. Generally, a patent gives the owner the right to decide if and how others can use their invention. To get a patent for an invention, technical information must be disclosed to the general public during the application process.
It’s, however, important to note that patent protection only lasts 20 years from the application date.
This legal term describes IP that protects original works of authorship once they are in a tangible form of expression. Copyright protects artistic expressions such as paintings, sound recordings, databases, blog posts, poems, illustrations, advertisements, computer programs, movies, architectural works, and maps. Once you create an original work, like recording a new song or taking a photograph, you are the author and copyright owner. Under the current law, copyright protection lasts 70 years after the author’s death.
A trademark is a word or symbol on a product used to represent the goods or services of a business. They help to distinguish the goods or services of one brand from those of another. Exclusively assigned to a brand, registered trademarks give owners the power to create a brand and promote their goods or services. They help consumers identify the products they need in a crowded market.
Registering a trademark provides legal certainty and reinforces the owner’s position during disputes or court proceedings. Note that trademarks issued by the United States Patent and Trademark Office (USPTO) last 10 years from the date of registration.
These are IP rights on confidential information that protect the “know-how” business. Any valuable business information that may be sold or licensed qualifies as a trade secret, including recipes, business operations, financial projections, and marketing strategies. Even something as straightforward as a customer list can be a trade secret if it gives an entrepreneur a competitive edge and isn’t known to the general public.
Alarmingly, the annual cost of trade secret theft in the U.S. economy is estimated at a staggering $180 billion.
New York Companies should take preventive measures to prevent theft or misappropriation of trade secrets, including signing non-disclosure agreements (NDA) and non-compete agreements (NCA) and controlling the accessibility of important documents. These agreements can offer a reprieve in times of commercial or industrial espionage, breach of confidence, and breach of contract.
This type of intellectual property focuses on a product’s appearance, aesthetics, or mechanical aspects. Industrial designs may have two-dimensional features like color, patterns, or color. They can be applied to a myriad of products, including logos, jewelry, electronic devices, textiles, and containers.
These represent goods from a specific geographical origin that have characteristics or a reputation attributable to their place of origin. Geographical indications and appellations of origin protect a product’s reputation, signifying its quality through the standards that goods from the same region set.
What Does an Intellectual Property Lawyer Do?
As a business owner, you must get everything right from the start to protect IP rights. With the help of sound counsel from an experienced New York City intellectual property lawyer, you can be sure they’ll protect your intellectual property rights. Here are some of the responsibilities of an IP lawyer in New York:
- Assess your IP legal issues and offer counsel
- Advising clients on IP rights and documents, such as licenses and patents
- Conducting IP asset due diligence
- Drafting and reviewing legal documents, such as trademark paperwork
- Collaborating with trademark and patent offices, such as the USPTO
- Transferring ownership rights of intellectual property, such as proprietary technology
IP lawyers play crucial roles in IP protection. In some capacities, they act as advisors, offering legal counsel to clients about IP matters.
Some of the benefits you can enjoy after hiring an intellectual property lawyer who can help you understand and use your IP rights include:
- Generating revenue streams
- Reducing tax liability
- Facilitating access to financing
- Mitigating risks
- Securing competitive advantage
- Attracting investors and partners
- Source of competitive intelligence
Call New York City’s Fridman Law Firm Today: Protecting Your Ideas and Original Work
Fridman Law Firm can help your company monetize its innovative ideas and protect its established intellectual property. From corporate law to general counsel, we provide a range of legal services related to intellectual property. Contact us online or call our office at 212-262-9823 to arrange for a consultation with a New York City Intellectual Property Lawyer.
Don’t let the unknown hold you back. Schedule your consultation today.
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