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Different types of intellectual property have a role in business

Many Georgia business owners know that protecting company assets is important. Besides monetary assets, intellectual property is an important component of nearly every company. However, business owners may not always understand the best ways to guard their intellectual property. Here is an overview of the different types of protection available and where they might be useful for a business.

The first type of intellectual property protection is a patent, which is usually used for innovations, like a product or invention. A patent protects innovations presented to the public, because it has value to the company. For example, it may be applied to a new type of water bottle so that no other company can produce one like it.

The other types of intellectual property protection often get confused for one another, and they are trademarks and copyrights. The difference is that a trademark is used in conjunction with the name of a business or its logo, something that immediately establishes the product as belonging to that company. In the earlier example, if the water bottle was produced by a company called Water for People, that business name, associated logos and slogans would all likely be trademarked, indicating to customers the authenticity of the product. A copyright generally applies to intellectual works, which for a business may be in the form of software code or any type of digital media. The fictional water company may decide to copyright its website.

The varying types of intellectual property are more complex than what is discussed here. For Georgia companies wishing to legally protect any of their business matters, working with an experienced business attorney knowledgeable about intellectual property concerns may be the best solution. It is important that businesses have every chance to thrive and protection of company property is a means of accomplishing that goal.