The Difference Between A Patent And A Trademark
By Business Editor
An individual who comes up with a new idea in the form of an invention or a unique signage is an important asset for society. Knowing how to properly utilize and protect this intellectual property can often provide immense benefits not just for the discoverer but to entire nations, or the world as well ...
Intellectual Property Rights or IPR is a controlled protection for original works such as writing, identifiers, inventions and processes. Patent and trademark are some of the many types of intellectual properties.
Patent Defined
A patent is an “exclusive right” given by a state to a patentee. An approved patent is usually an invention which is original, creative, functional and most importantly “industrially relevant.” The right is being given in a permanent duration as long as it is made known to the public.
Patents are classified into three categories:
1. Plant patent – a type of patent wherein anyone formulates a new variety of plant commonly through asexual reproduction.
2. Utility patent – a type of patent wherein anyone uncovers any new and functional procedure, mechanism, piece of manufacture, composition of matter or any innovative development.
3. Design patent – a type of patent wherein anyone invents a contemporary, innovative and ornate design for an article of manufacture.
Trademark Defined
A trademark is a distinct mark which is commonly used by organizations, institutions, or companies. Trademarks are being used to exclusively differentiate goods or services from other entities, especially potential competitors.
Typically, a trademark consists of a name, logo, symbol, word or phrase, image, design or combination of these components.
Uses of Patent and Trademark
With a patent, you have the right to prohibit other people from creating, utilizing, selling, or trading in a patented discovery. On the other hand, with trademark you have an absolute right with your “mark.”
A patent is commonly administered by the government so that the public may be able to utilize it. Conversely, a trademark is commonly managed and utilized by entrepreneurs for their own good since trademarks are usually being used as an effective marketing tool.
Benefits of Patent and Trademark
An exclusive ownership – that is the primary benefit when an individual decides to patent his work or someone decides to register a trademark. With this, other people will be prevented from creating, using or selling the ones you have such as an invention or a “mark.”
You may use these for gaining profit. Regarding a patent, you as an inventor or patentee have the right to sell your discovery. Additionally, you can have your patent licensed to one or more parties in exchange for receiving an agreed percentage of the selling price. Regarding a trademark, entrepreneurs profit from these because trademarks are commonly utilized as marketing tools. The more people who purchase or use trademarked goods or services, the more revenue you can earn.
The Registration Process
For a patent registration, you seek to obtain a patent and claim it. Primarily, you need to present a written description of your discovery. The description must de detailed. The inventor must describe the uses of his discovery. Most importantly, the inventor must provide specifications of their discovery such as how it was made and how it will be operated. The written description is termed a “patent specification.”
For a trademark registration, you will also have to complete an application form which can be downloaded from the website of the Patent and Trademark Office. The application form can also be obtained from the physical office itself. Together with the application form, you will submit a piece of paper with the illustration of your “mark.” Additionally, just like in the patent registration process, you also need to give a description of your trademark or service mark as well as on what goods or services it will be utilized for.
Both patent and trademark applications have their corresponding filing fees. The approval of patents and trademarks is managed by the United States Patent and Trademark Office (USPTO).
There are people or institutions who can help you deal with your patent or your trademark registration. For instance “The Investors Assistance Center” is an agency which can help you with topics concerning acquiring a patent. On the other hand, a professional lawyer who specializes in federal trademark processes can assist you with your queries about trademark registration.
Next article: Basic Legal Facts About Filing A Trademark Application
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Recommended Trademarking Resources
A Trademark Guide for Entrepreneurs  - A Trademark Guide for Entrepreneurs provides the information business executives need to know about protecting their most valuable assets - their trade names, trademarks and service marks. In easy-to-follow language, Robert E. Lee explains how to register trademarks and trade names with both state and federal offices, police the marketplace for possible infringers and successfully exploit the marks through assignments, licenses, franchises and joint ventures. Most importantly, A Trademark Guide for Entrepreneurs teaches the corporate officer, director or manager how to select and use effective trademarks that will stand out in over-crowded market areas, thereby increasing market share and profit potential.
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The Trademark Guide: A Friendly Handbook To Protecting And Profiting From Trademarks (Paperback)
For more information about Trademarking-related resources, see our Business resources section, subscribe to our Business Newsletter containing news, updates and insider tips, or go to more articles about Patent Trademark.
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