5.9 Intellectual Property (IP)
Protecting your ideas is important. There are three common types of IP protection for new businesses:
Trademark: Protects brand identifiers. This includes your company or product name, logo, or slogan that distinguishes you from others. For example, the name Coca-Cola® and its script logo are trademarked. A federal trademark registration prevents others from using a confusingly similar mark on related goods. As the USPTO notes, a trademark is “a word, phrase, [or] design… that identifies your goods or services, distinguishes them from the goods or services of others”. Registering a trademark gives you nationwide rights to that brand element.
Copyright: Protects original creative works. This covers things you create once, like text, photos, music, software code, or videos. For example, if you write content for your website or produce marketing videos, copyright law gives you exclusive rights to copy and distribute them. Copyright lasts a long time (typically the author’s life plus 70 years) and automatically exists in anything original that’s fixed in a tangible form (no registration needed, but you can register for extra legal protection).
Patent: Protects new inventions or processes. If you invent a novel gadget, chemical formula, or unique manufacturing process, you can seek a patent. A patent grants you the exclusive right to make, use, or sell the invention for a limited time (usually 20 years). For example, if you design a new type of smartphone with a foldable screen, a patent would prevent competitors from copying that design without permission. The USPTO defines a patent as protecting “technical inventions, such as… mechanical processes… or machine designs”. Keep in mind patents require a formal application and are most useful for truly new, non-obvious inventions.
By securing trademarks, copyrights, or patents, you legally safeguard the most valuable parts of your business: your brand and creations. In practice, many startups trademark their name and logo first to build brand recognition. If you’ve invented something highly unique, consider patenting it early (before publicly disclosing it). And always retain copyright to your original content to avoid others copying it. In summary: TM for names/logos, © for creative content, and patents for inventions. This keeps your competitive edge protected as you grow your business.