Intellectual Property (IP) Law is a body of law that grants exclusive rights to creators over their creations of the mind. These creations are considered intangible assets—like ideas, inventions, designs, and artistic works—and are crucial to modern commerce and innovation. The primary goal of IP law is to foster an environment where creativity and innovation can flourish by allowing creators to earn recognition or financial benefit from their work, thus balancing the interests of innovators with the wider public interest.
The four main types of Intellectual Property are:
| IP Type | What It Protects | Duration (Varies by jurisdiction and type) | Example |
|---|---|---|---|
| Patents | New and useful inventions (processes, machines, manufactures, or compositions of matter) or unique ornamental designs. | Typically 20 years for utility patents. | A new pharmaceutical drug or a unique mechanical process. |
| Trademarks | Signs, symbols, words, names, or designs used to identify and distinguish the goods or services of one party from those of others. | Indefinite, as long as the mark is in use and properly maintained. | A company's logo, brand name, or slogan. |
| Copyrights | Original works of authorship fixed in a tangible medium of expression (literary, dramatic, musical, artistic, and certain other intellectual works). | Life of the author plus 50 or 70 years (varies by country). | A book, a piece of music, software code, or a painting. |
| Trade Secrets | Confidential business information that gives an enterprise a competitive edge (formulas, practices, designs, and provides instruments, or processes). | Indefinite, as long as the information remains secret value. | The formula for a soft drink or an exclusive customer list. |
As an expert legal consultancy, Genesis Law Consultants specializes in protecting, managing, and enforcing these vital intangible assets. Our assistance is structured around three core functions: Counseling, Protection, and Enforcement.