The Definition Of Intellectual Property Singapore Companies Should Understand

Intellectual property, often called IP, is fast gaining importance among the business community. More importantly, IP is rapidly becoming a valuable asset of many companies involved in various industries such as tourism, retail and information technology.

However, because IP assets are intangible, managing them requires a different approach. Unlike those that are concrete and can readily be seen or heard or experienced, IP needs to be perceived, felt and understood as a concrete concept despite it being abstract.

One sound advice that potential IP owners must take heed of is to start registration and management of intellectual property at the earliest time possible. Thus, right at the onset of formulating business strategies, the notion, nay the very idea, of IP management should already be present.

Information About Intellectual Property Singapore Companies Must Know

Singapore’s policies on IP are contained in the Singapore Intellectual Property Law. In an effort to balance the protection of rights of owners of creative works with that of increased public access to IP, the Law is harmonised with principles that are the basis of global laws on IP rights.

For instance, IPRs registered in this Lion State are given the same standards of protection as those enumerated in international agreements, including the World Trade Organization’s TRIPS (also known as the Trade-Related Aspects of Intellectual Property Rights) Agreement, plus the Berne and Paris Conventions.

Intellectual Property Singapore – Know Where To Register For Protection Of IP Assets

At the forefront of protection of intellectual property is the Intellectual Property Office of Singapore. Also known as IPOS, it was created by virtue of the Intellectual Property Office of Singapore Act in April 2001.

IPOS is mandated to administer the following legislation: Copyright Act (Cap 63); Geographical Indications Act (Cap 117B); Patents Act (Cap 221); Layout-Designs of Integrated Circuits Act (Cap 159A); Registered Designs Act (Cap 266); Trade Marks Act (Cap 332); and, the Plant Varieties Protection Act (Act 22 of 2004).

To save on time and effort in the registration of intellectual property, Singapore companies need not go directly to IPOS. Consulting with a certified registration agency that is an expert in the field of managing intellectual property is more practical.

The LINK:Intellectual Property Office Of Singapore:http://www.pyprus.com  is the lead government agency under the Ministry Of Law the protects intellectual property, provides education and awareness about its importance and that lays the infrastructure ready for IP implementation in Singapore. With Singapore having a pro-business community, creating business ideas which can be protected from infringement is necessary and an important, well-chosen emphasis of the government.  The IP protection gives confidence to entrepreneurs for their business ideas or concepts from the time of conception to the time these concepts become real-life products of mass consumption. Ideas are the lifeblood of many businesses; as such these should be protected at all costs.

The Value Of Processing IP with the Intellectual Property Office Of Singapore

First of all it is because you are protected from other people who can rip your ideas from you.  Second, it is because you are helping the local government eradicate risky and fake businesses who illegally copy ideas. There has to be fairness in business from the time one idea has been conceptualized.

As a business owner, you also may unknowingly make the mistake of creating a product from already existing products elsewhere. For this reason, working with a service provider on intellectual property matters will help. Singapore, in particular, has IP agreements signed with many countries including Japan, Paris, and member countries of the World Intellectual Property Organization. This means that products innovated in Singapore do not infringe upon the laws signed by these countries and nations.

Is Understanding IP Legislation Difficult?

If you are to do it on your own, yes. Try checking the website of the Intellectual Property Office Of Singapore and you will see the many legislations provided for each and every IP subject, such as patents, copyrights, trademark, registered designs, etc. Engaging the services of an IP service provider is most important to save time and resources and to simply not get lost in the process. It will be worth the peace of mind you have knowing that while you are innovating an idea, your innovations are protected in Singapore and elsewhere in the world.

When you have a creative asset such as design, music, artwork etc, that you have developed yourself, then it can be called as your intellectual property. To avoid infringement and related issues, creators of such intellectual property must have complete knowledge of their rights in view of this asset and also how these rights can be enforced.

Intellectual property can be categorized into two broad kinds: industrial property like patents, trademarks, industrial designs etc, and copyright, which covers music, art, photos, literary pieces etc. The basic right that intellectual property law grants to the creator is that of exclusive use and marketing of the said work as governed by the laws applicable to the region.

The property of the owner can be used only by him or it can be authorised for use by other people only after his permission. The owner also possesses exclusive right to allow people to reproduce the work. The IP owner’s other rights on the creation include his right to objecting to changes or distortions by other parties to his work. These rights can be bestowed upon others by following certain procedures outlined under the law.

Intellectual Property Rights

While these rights are very comprehensive there are some limitations attached to them. In some nations the creative work should be in concrete form to fall within the purview of intellectual property.

With tangible objects, the question of right of ownership and use can be easily resolved as the objects are physical in nature. But for intangible forms of intellectual property, the situation is very different and it can often be very complicated to determine whether a claim of infringement is valid or not. Hence, it is very important to know and understand the rights you possess in relation to such creations so that you can reap the advantages – both financial and otherwise – of your creations.

When we talk about property, it is not just the tangible things such as homes, buildings, vehicles, currency etc that are protected by law. There are various other forms of non-material property termed as intellectual property that have been recognized under the law and granted safety against infringement. The three primary kinds of intellectual property rights are patents, trademarks and copyrights.

Copyrights are intellectual property dealing with rights of the creator over his or her original creation. It includes not only original literary pieces but also other forms of creative expression like melodies, videos, films etc. It provides the owners with several rights including monetary and moral rights in addition to the right of being acknowledged as the owner of the piece.

On the other hand, trademarks accord the person who has registered it, the safety over certain symbols, words or marks which identify the creator or origin of products to prevent replication and thus infringement. With this legal shield, trademark is protected from replication by unscrupulous persons who want to exploit reputed brands.

The third type of intellectual property right, known as patent, safeguards the rights of inventors in their novel and beneficial invention. A patent is valid for a specified span and gives the holder sole right to use and commercially exploit his or her idea.

Less common IP

There are a few other less common types of intellectual properties that can be held by people. To give some examples of these rare intellectual properties, they can be some special understanding carried forward by a specific family only; business secrets like recipes behind popular products; and location based symbols or marks to refer to a product which comes from that place, like Champagne.

While all the three types of intellectual property mentioned above are distinct from each other there are also some commonalities. All three are recognized by law in a manner that allows the owners of the property to take legal action against the infringer and get compensation for infringement.

Patents, Trademarks & Copyrights

One of the important differences is that the patents basically protect the tangible or conceptual inventions, while copyrights secure literary, artistic or other similar works. A trademark, on the contrary, can be a word or a symbolic design that can differentiate products of one firm from the others.

The next important thing that differentiates patents from others is the high standard of protection provided by it due to strict liability principles. In other words, irrespective of the fact that the infringer was or was not aware that he was violating the patent, he will be considered responsible for the same. Hence, patents provide a lot more protection than other types of IPRs without any scope for exceptions like fair use and other such provisions.

The usual period for a patent validity is 20 years, after which the rights of the patent owner cease to exist forever and the invention can be used by anyone. On the other hand, copyrights are usually valid for a longer period, for about 60-70 years from creation and trademarks carry on for even longer periods. Moreover, patents are capable of protecting your creation in a much more exhaustive way. Patents protect not only the final creation like copyrights do but they also safeguard the principles and techniques applied in a specific invention.

Lastly, since these three kinds of IPR offer different levels of safety for different things, the procedure for submitting an application for them are also quite different. For example, filing for a patent has to have a proper disclosure of the product, while the one for copyright needs attaching a replica of the work itself, and the one for trademark simply needs an appropriate check for similar marks in the market.

How Are Patents Different From Copyrights And Trademarks?

Patents, copyrights and trademarks are different aspects of a single idea. These are types of intellectual property that secure the interest of inventors and creators. However, there are many key points of differences among the three.

The first and foremost difference is that the patents protect rights over a tangible or conceptual invention, while the copyrights secure documents or images brought into existence by the author. For trademarks, there is no requirement for something original or innovative and they can just be a word or even a logo that distinguishes a product or firm from others.

Secondly, patents are the most effective forms of IPR, especially because they are based on strict rules and regulations. In other words, irrespective of the fact that the infringer was or was not aware that he was violating the patent, he will be held responsible for the same. Therefore, patents provide higher protection than copyrights and trademarks that permit certain exceptions like fair use etc.

The usual span for a patent validity is 20 years, which is followed by termination of the exclusive ownership rights of the owner. Copyrights, on the other hand are generally given for 60-70 years, and trademarks can continue for centuries. Moreover, patents are more exhaustive and accord broader protection than others. Put simply, a copyright protects the mere expression of ideas, while patents can safeguard the underlying processes and ideas behind the creation as well.

IP Protection

Finally, since these 3 categories provide different levels of IP protection for different things, the processes for submitting an application for them are also significantly different from each other. For instance, filing for a patent has to have a proper disclosure of the product, whereas the one for copyright needs attaching a copy of the work itself, and the one for trademark simply needs a proper search for confusingly similar marks that already exist.

Intellectual property is of four types, and each one is crucial for a company as it helps in generating profit by giving the firm an edge over its rivals in the market.

A trademark gives a unique identity to a firm among its competitors. It is the stamp of genuineness for a company and an effective means of creating brand image, which makes customers trust the company. A certified trademark is the sole property of a company that gives a company the authority to drag another firm to the courtroom for misuse of its logo with commercial or harmful intentions.

A patent is necessary because good inventions usually have good financial prospects. Hence if unscrupulous profiteers make use of your invention for personal gains, your legal right to exploit your invention commercially is affected and you may suffer financial losses. A patent thus gives you the legal permission to make money out of your invention.

A copyright stops an original creation from being plagiarised. It can help prevent unauthorized copying of material like ad jingles, software program or even the content on a website. If your company deals in artistic content like music then marketing of pirated versions of your creations can ruin your company. If your work is not protected by copyright, it is vulnerable to theft, and unscrupulous individuals can claim its authorship. An owner of copyright is guarded from such situations and can even win compensation for unlawful use.

Likewise, trade secret protection ensures that some important information does not leak out to your competitors. Closely guarding a trade secret helps you score over your market rivals, which can result in profits for your business. Since a trade secret has no expiry date, it can be protected forever without the person having to follow any official formalities of its renewal. The secret, if well kept, will go on laying golden eggs for your company for as long as you want.

Copyrights deal with protection of original creative works. They offer legal safeguards for original works of creativity like novels, films, music, and so on. They permit the owners to exclusively use many forms of their idea in different mediums with sole legal rights of replication, adaptation, sale etc for a certain period of time. In most nations, a copyright continues even after the author’s death for 50 years and any unauthorized usage is actionable.

Patents are lawful and certified rights that allow inventors to stop others from manufacturing or marketing their invention. Typically they apply to scientific theories, inventions in the field of technology and even biological discoveries. The protection cover provided by a patent in most countries is for a span of 20 years, after which the invention ceases to be the exclusive property of the inventor.

Trade secrets

Trade secrets are certain confidential pieces of information that help a firm to gain an edge over its rivals in the market. Trade secrets can be anything ranging from a new software to the recipe of a food item and even information such as contact numbers of most important clients. Usually, trade secrets are a confidential matter and are zealously guarded by the company without any involvement of a government agency. The most common means of protecting trade secrets is by confining the information to only a few key executives and not everyone, or by depositing it safely in a bank together with other valuable items and papers.

Trademarks, on the other hand, include words, designs or logos that are associated with the firm on the whole or its products and services, which distinguish them from the competition. Trademarks act as an immediate recall of the company in the consumer’s mind and give rise to a specific brand identity. Usually trademarks hold good for 10 years after which a renewal is often necessary.

There are different forms of intellectual property on the internet, like textual content, images and graphics, music, videos etc. An original work can be protected from infringement by posting a copyright notice that will state the terms and conditions of its lawful use. The notice should state clearly that the content is protected by copyright and has sole private ownership, and that any replication of it in any medium would require the owner’s authorization.

A trademark symbol (TM) on a brand name or a logo can go a long way in safeguarding your brand related IP on the internet. In the same way, copyrighted pictures and videos can be watermarked to provide greater protection so that individuals are deterred from freely reproducing the same pictures on their sites or blogs.

A very important question is how to monitor or detect an unauthorized use of your IP on the internet. There are several solutions present for this. There are several software products available that can help you find out if your IP, particularly textual matter, is being subject to unlawful use. You can also do a search on major search engines for your trademarks and find out where they are present on the internet. There are companies that offer expert services with respect to infringement detection, and they will investigate and inform you of any violation of copyright in lieu of a reasonable fee.

If you happen to detect any unauthorized use of your intellectual property on the internet, then you should immediately contact the violators and tell them to stop displaying your content on their sites. This can be accomplished by sending warning letters to the offenders. If the letters are not able to produce the desired result, you can even file a lawsuit and seek compensation.

Firstly, you should keep the critical information confined to yourself and not discuss it with others. You need to be quite careful about the details of your idea, while sharing it with others, particularly on unsecured mediums such as internet. If you want to share your idea with your colleagues by means of email, you should ensure that your mail account is protected by a strong password.

It always helps to have some basic idea of the intellectual property related laws. This legal understanding will help you protect your intellectual property through proper policies and provide protection to your idea against any case of infringement. For example, if you hire a team to further develop your idea, you can try ensuring that the members of the team realize that what you are giving them to work upon is classified information. The proper way of doing this is to ask them to sign non-disclosure agreements, which will help you take legal action if the need arises.

It is always recommended to take suggestion from a lawyer, who can find out the relevant provisions of law for protecting your rights. More often than not, these laws involve complications that have to be sorted out by an expert on intellectual property matters. The lawyer will then let you know the ways of patenting or copyrighting your creation, so that no one can infringe it.

It is crucial to remember that the beginning stages of the idea development are the most suitable time for consulting an IP lawyer. Filing an early patent or copyright can save you from a lot of trouble in future.