INTELLECTUAL PROPERTY RIGHTS HIGHER PRODUCT DESIGN INTELLECTUAL PROPERTY RIGHTS

What is Intellectual Property? Creative processes generate new ideas, whether in the field of Product Design, Music, Art or elsewhere. These ideas, which may have a commercial value, are the Intellectual Property (IP) of the creator, whether they are an individual or a company organisation. IP can have enormous commercial value and can be traded as a commodity. Commercially valuable ideas can be at risk if not carefully protected. Others may gain commercial advantage as a result.

What is Intellectual Property? There are 6 types of Intellectual Property Protection. Confidentiality Trademark Patent Registered Design Copyright Design Right

Why is IP important? Intellectual Property is important because it brings economic benefit to those who know how to take advantage of it. The two main ways in which this is achieved are; Ideas can be protected from exploitation by other parties. Much research work becomes public and is thus a valuable resource.

Since the end of the Second World War, Britain has developed one third of all worldwide patents. Despite this strong showing of creative research, Britain’s position in the global economic rankings has steadily declined, as many ideas are developed commercially overseas. Better understanding of IP rights (IPR) would help reduce this wastage. One aspect of the patenting process that many are unaware of is that whilst the patent gives its owner the exclusive rights to that idea, as part of the process the patent is published and thus the idea is made public for any interested parties, including competitors, to see. The primary aim of the Patenting process is to encourage innovation.

This has two results: Competitors can keep an eye on what the opposition are working on and can see where the market may be going. 65% of research and development (R&D) work has already been done before and is already publicly available in the Patent Library. (visiting the Patent Library can save vast sums of money in R&D budgets)

CONFIDENTIALLITY Secrets The oldest form of IP protection Very cheap to keep as long as all parties are trusted. The fewer people who know the safer the secret. Benefit – means the property does not become public.

COPYRIGHT Used to protect written, printed or broadcast materials. Simple to use. Usually owned by the author or the author’s employer. Can be bought and sold in the same way as the commodity. Once claimed, the Copyright belong to the author for the rest of their life plus 70 years.

TRADEMARK Used for clothing and advertisement logos. Used to identify a product with a company to help improve the products image and improve sales. Are usually words, although it is becoming more common for other items to be protected this way. Companies protect their products’ names to prevent competitors from copying or ‘passing off’ their products. Brands produced by the company are trademarked, not the company name itself. Companies can use the same name as their trademark as long as they are not in direct competition with each other.

DESIGN RIGHT Newest form of IP – similar to Copyright. Exists automatically, there is no application process. Offers less protection. Cheap form of protection. Mark the design ‘Design Right’ and date it for this form of IP to take affect. The Design Right only lasts 10 years and can be copied in the last 5 years of that agreement if a licence fee paid.

REGISTERED DESIGN Protects the appearance of the product but not how it works. Can be used alongside other forms of IP protection, eg Patent – the way it works changes or is new. Similar process for registering as Patents – controlled by the Patent Office. Registration is kept for 25 years as long as renewal fees are paid. If renewal fees are not paid competitors can copy without any action being taken.

PATENT A licence which gives the owner of an invention the right to use the invention for their own commercial gain. People are prevented from copying the invention for up to 20 years. Patents are made public so people can find out about the new invention. This can save competitors money from R&D budgets. The owner of the Patent can sell or licence the idea to other companies.