Patents, trademarks, and copyrights are commonly known as “intellectual property” or IP. As occasional high-profile lawsuits between large corporations illustrate, IP can be extremely valuable, causing companies to budget significant amounts of money to acquire, defend, and assert IP rights. The concept of IP can be controversial, prompting various constituencies to condemn the entire idea (e.g., as dampening innovation or hampering individuals and smaller entities), or to object to the vast sums spent on high-profile lawsuits and their resulting awards/settlement.
IP is for tech companies. Every company possesses Intellectual Property. A misconception exists that IP is only for tech companies such as Apple or Intel and IP is only about patents. Not true. 100% of companies possess IP. IP is not just about patents but also includes protecting a company’s brand, is creative work and trade secrets.
When a company or individual sets out to protect their intellectual property, their first move is usually to consider copyrights, patents or trade secrets. While each of these forms of intellectual property protection is important, and to form a comprehensive strategy they must work in concert with each other.
Some Coloradans might be familiar with certain words, such as aspirin and elevator, which were once brand names but became common nouns. Thankfully, today’s companies can seek trademark protection through the U.S. Patent and Trademark Office to prevent other companies from using their product names, which can eventually cause these names to become common nouns. Despite these federal protections, however, some trademark disputes are unavoidable.
Following a national or local crisis, companies and organizations in Colorado and elsewhere often pitch in to help those in need and to create awareness for their cause. However, when companies and organizations try to obtain trademark protection for these campaigns, they are sometimes denied.
While the adoption of new technologies often has a positive impact on Colorado business, it sometimes presents challenges as government officials determine the best way to regulate the emerging technology. The same holds true for three-dimensional printers, which enable people to print 3D objects such as consumer goods and even firearms from their home or office.