Intellectual Property is intangible personal property that, as the name implies, is created by the mind. The four most recognized types of IP rights are copyrights, trademarks, patents, and trade secrets. Like tangible property, the law recognizes the right to own, license, and sell IP, but IP must be protected to ensure that you can take advantage of those rights!

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Other IP rights include the right to your likeness, protections for certain varieties of plant, design patents, and more!

There are different methods of protection for each form of IP. It is important to ensure that you take the right steps to protect your creations so you don’t lose out on your rights! Trademarks require policing, patents have strict deadlines, and trade secrets need to be kept secret! The experienced attorneys at Chernoff Vilhauer can help you build a strategy to ensure that you can take full advantage of your IP rights!

A patent is the legal right granted by the United States to an inventor or assignee, providing the exclusive rights to make, use, and sell an invention for a limited period of time and prevent or permit anybody else from doing the same.

A trademark is a name, design, sound, picture, or any other device that a person or business can use to identify themselves in the sale of specific goods or services.

A copyright is the legal right granted by the United States that gives the owner the exclusive rights to reproduce, distribute, perform, display, transmit, and prepare derivative versions of a protected work and to prevent or permit others from doing the same.

A trade secret is valuable information that a business or person takes steps to keep confidential and uses to maintain a competitive advantage. Coca-Cola Company’s secret formula is a great example! Trade secrets can include formulas, recipes, manufacturing processes, customer lists, marketing strategies, or any other confidential business information.

Privacy compliance refers to the legal framework and practices that organizations must follow to protect the privacy of individuals' personal information. It's crucial because it helps you avoid costly legal penalties, maintain your reputation, and build trust with your customers by ensuring their data is handled responsibly.