What Florida Business Owners Need to Know About Intellectual Property
Your Florida business’s intellectual property is one of its most important and valuable assets. Unfortunately, a lot of it gets overlooked because many people don’t know just how many different things fall under this wide-ranging category. This article will break down all the different types of ideas and creations that your company should keep an eye on so that you can have an easier time identifying your Florida business’s intellectual property.
What is Intellectual Property?
Intellectual property refers to creations of mind, which include everything from new inventions to the product labels used on shampoo bottles. Florida business owners need to understand intellectual property so that they can keep their competition from profiting off of their ideas, products, and services. There are four main types of intellectual property: trademarks, copyrights, trade secrets, and patents.
What is a Trademark?
Trademarks are what help connect your Florida business and the products and services that it provides in the minds of the general public. They also help you stand out against your competitors. A good trademark is distinct, memorable, and won’t be easily confused for one that’s already on the market (check out this article to learn more). There are many different things that your company uses as a part of its branding and marketing efforts that count as trademarks, which can include:
- Words (Names, product names, slogans, phrases, etc.)
- Symbols (Logos, designs, etc.)
- Colors (A specific color or combination of colors)
- Sounds (Musical snippets or unique sounds)
- Product Packaging (If that packaging serves as a brand identifier)
Should I Register My Trademark?
Although common law protections are granted to the first party to use the trademark in commerce, registering that trademark can provide additional benefits and help reinforce your status as its rightful owner. Florida business owners have three options when doing this, each with its own advantages and disadvantages. These options are:
- Registering with the State of Florida – A trademark registered at the state level only grants protections in that particular state, but it can still be a great option for new companies and entrepreneurs working on a budget.
- Registering the United States Patent and Trademark Office (USPTO) – Registering with the USPTO is the gold standard when it comes to safeguarding your trademark against would-be thieves. Also known as federal registration, this enables the owner to enforce their rights nationwide and online.
- Registering Internationally – The Madrid Protocol is a streamlined and simplified process for international trademark registration and enforcement. However, this is only a concern for companies with plans to expand internationally or those that already operate in multiple countries. If this is something you need assistance with, contact our firm to schedule a consultation with our intellectual property attorney.
What is Copyright?
Copyrights, on the other hand, cover works of authorship, which can include much more than the written word. A copyright’s effective period depends on the type of work that it protects and how long the creator lives for. The general practice since 1978 has been to grant these rights for a time equal to 70 years plus the creator’s age upon their death. Copyright protections exist immediately upon the work’s creation, but registration can help reinforce your Florida business’s intellectual property claims.
Some common examples of works that are eligible for copyright protection include:
- Literary works such as books, articles, and poems
- Artistic works such as paintings, photographs, and sculptures
- Musical compositions
- Films
- Software code
What is a Trade Secret?
A trade secret can be any formula, customer list, process, or other type of confidential information that your Florida business uses to gain an advantage over the competition. Because trade secrets can’t be registered with a state or federal agency, you’ll need to take a strategic approach towards their protection that includes non-disclosure agreements (NDAs), limiting access to your trade secrets, and monitoring for potential leaks.
To count as a trade secret, the information in question must meet three specific criteria:
- Its value must come from the fact that it’s a secret;
- It must only be known by a select few individuals; and
- Reasonable steps must have been taken to keep said information secret, which includes using NDAs to bind the relevant business partners and employees.
What is a Patent?
A patent gives its owner exclusive rights to make, use, and sell a new and useful invention, process, method, or design for a limited time. Items that fall into these categories include machines, manufacture, compositions of matter, or an improvement on such items, as well as new and ornamental designs for articles of manufacture. However, patent protections cannot be obtained for things like abstract ideas, natural phenomena, laws of nature, or artistic works.
The first step to registering a patent is to run a patent search. This process lets you browse and review patents and published applications that are similar to your own invention. This is useful for determining if your invention meets the USPTO’s standards for patent protection. To qualify, the desired patent must be:
- Novel;
- Useful; and
- Non-obvious.
If you don’t conduct a patent search, then you run the risk of infringing the rights of other patent owners, which can come with heavy consequences.
When registering a patent with the USPTO, you’ll want to work with an attorney who specializes in patent law. This requires admission to the USPTO patent bar. While our firm does not offer this service, we’ll be happy to provide you with a referral if this is something that you want to pursue.
Working with an Intellectual Property Attorney
Registering a trademark or copyright requires following an intensive and complicated process that involves a lot of research and paperwork. During this process, it’s essential that you maintain legal compliance and pay all of the USPTO’s necessary filing fees. You should also be prepared to handle any objections raised by examiners. An attorney’s help can be the key difference when it comes to successfully navigating these challenges and securing your Florida business’s intellectual property.