Intellectual Property - What it isWritten by P.M.George Kutty
Intellectual Property - What it is
Intellectual Property (often just called "IP") is a general term covering patents, trademarks, designs, copyrights, geographical indications and in some countries concept of "unfair competition". It is, as name suggests, intangible personal property arising from intellectual creation. Since intangible, owner of intellectual property cannot build a fence around it as with real estate or place it in a bank locker as with valuables. To address situation, governments have created a variety of forms of intellectual property protection. Types of Intellectual Property Protection Some of more common types of intellectual property protection are Patents, Trade Marks, Designs, Copyrights and Geographical Indications.
Patents are by far most technically demanding branches of intellectual property. In basic terms, a patent is a monopoly right granted by government to a person who has invented a new useful articles or an improvement of an article or a new process of making an article. It is a negative right, granted to exclude others from making, using or selling invention within a certain jurisdiction for a limited period of time. A patent granted by a patent office is applicable within geographical boundaries of that country only. There is no International or World Patent. An inventor has to file an application in each country, where he seeks to protect his invention. There are regional and/or International treaties to facilitate procedure to seek protection like European Patent Organization (EPO) and Patent Co-operation Treaty (PCT). Trade Marks popularly known as brand name, is an identification symbol which may be a word, a device, a label or numeral etc. or a combination of word and design, a slogan or even a distinctive sound, which identifies and distinguishes goods or services of one party from those of another. Used to identify a service, it can be called a Service Mark. In general, term trademark can be used to refer to both trademarks and service marks. Normally, a trademark for goods is word or design that appears on product or on its packaging, while a service mark is usually word or design that is used in advertising to identify source or provider of services. Registration of a trademark is not mandatory, but does confer very substantial commercial benefits. When taking legal action against others, registered trademark users need only base their case on registration, whereas users of unregistered trademarks must rely exclusively on passing off for protection. Suing for infringement of a trademark is much simpler than launching a common law action for passing off to protect any unregistered trade mark. The Concept of 'passing off ' is common law remedy and it is available for a trademark or a trade name on basis of 'prior user' status. Designs means only features of shape, configuration, pattern or ornament applied to any article by any industrial process or means, whether manual, mechanical or chemical, separate or combined, which in finished article appeal to and are judged solely by eye, but does not include any mode or principle of construction or anything with is in substance a mere mechanical device, and does include any trade mark. A design in order to be registrable must be new or original not previously published.
Corporation – What Is It?Written by Richard A. Chapo
Simply put, a corporation is a form of business entity. You probably already know this, so this article delves into a few of particulars.
For legal purposes, a corporation is considered a separate legal entity from those forming it. Although it is not a living person, a corporation generally has same rights. It can own property, enter contracts and claim constitutional rights. Unluckily, a corporation also must pay taxes like you and me.
Unlike each of us, a corporation can “live” for 100 years, 200 years or more. Certain forms of corporations were known to exist as far back as in days of Ancient Rome. Despite it’s gladiator tendencies towards other companies, Microsoft was not first corporation.
State of Incorporation
These days, state law authorizes and governs creation of corporations. In 1811, New York was first state to pass laws authorizing corporations. As other states were created, passage of laws authorizing corporate enitity became standard practice. Today, corporations can be formed in every state.
The Secretary of State for each jurisdiction typically controls incorporation process. Corporations are “residents” of state in which they maintain offices, have employees, receive mail, etc. This is true even if it conducts business in other states.
A corporation is considered a “domestic entity” in state in which it is incorporated. In all other states, it is considered a “foreign entity.” For example, a company like Nomad Journals is a domestic corporation in Colorado, where it is based. When I buy a travel journal from it, California authorities may consider it a foreign corporation and require it to conform to California law. Foreign corporation status is a technical area of law and well beyond scope of this article. Nonetheless, just keep in mind that state of incorporation can be a key issue, particularly when it comes to tax issues.