Intellectual property is just as worth protecting as tangible assets. IP law covers the protection of rights pertaining to trademarks, designs, patents, copyright, and related rights.
When it comes to the term “intellectual property”, the first things people typically think of are works of art, literature, music, and the like. Yet the term is defined more broadly, also encompassing exclusive rights to intangible assets. Accordingly, rights relating to trademarks, designs, and patents also fall within the definition of intellectual property.
This also means that intangible assets utilized primarily for commercial ends are intellectual property as well. These assets are protected under industrial property law. However, its scope is too narrow in many instances, as it does not encompass copyright. We at the commercial law firm MTR Rechtsanwälte note that IP law casts a wider net, covering both industrial and intellectual property law.
IP law covers the protection of personal intellectual creations in literature, science, art, music, and related property rights, as well as industrial property rights such as those pertaining to the protection of trademarks, indications of geographical origin, designs, and patents. These different sets of rights can sometimes be at odds with one another, which makes it all the more important to obtain interdisciplinary legal advice. We at MTR Rechtsanwälte can serve as a single source of advice.
The protection of intellectual property is of equal importance to creators and companies, both of whom wish to prevent third parties from exploiting and profiting from the success of their work or product. Securing effective protection should therefore be an initial priority.
In the case of intangible industrial assets, trademark protection is particularly important. A brand may represent an asset of substantial value to businesses, with the potential to continue appreciating depending on the level of consumer awareness. For this reason, it ought to be registered as a trademark. In doing so, attention needs to be paid to the territorial scope of trademark protection, whether this encompasses national boundaries, the EU, or is even broader in scope. At the same time, trademark infringements can be prosecuted and penalized.
Legal disputes also commonly revolve around copyright law. This is supposed to protect intellectual property both materially and immaterially, though furnishing evidence can potentially prove to be difficult. That is why it is a good idea to consult lawyers with experience in the field of IP law early on.