Intellectual property is one of the most valuable assets that an individual or business can own, license and register that has the potential of providing significant returns on investments. Intellectual property primarily consists of the following categories:
A copyright is a right given to the creator of an original work by the government giving the creator exclusive rights to the work for a limited period of time. The original work can be, among other things, a work of art, music, literature, motion picture, radio and television broadcasts, photographs, computer software and industrial designs. The rights given to the creator include the right to be credited for the work, the right to copy, the right to control who may adapt the work to other forms, the right to control who may perform the work, the right to financially benefit from the work along with other related rights.
A trademark is a word, phrase, symbol, or design, or a combination thereof, that in the business world identifies and distinguishes the source of goods or services of one party from those of others.
A trade secret consists of a simple formula, internal manual, data and information, business methods and procedures or any other information which conveys an economic advantage from being kept secret and whose owner has taken reasonable steps to keep the information secret.
A patent is a set of exclusive rights granted by a government for a limited period of time to an inventor of a product or a process. The patent provides the inventor the right to exclude others from making, using, selling, offering for sale or importing the patented invention for the term of the patent. A patent does not give the inventor the right to make or use or offer to sell the invention as the invention may be covered by someone else's patent.
Licensing of intellectual property is a valuable business asset that can generate profitable revenue. A carefully drafted license, whether it relates to copyright, trade mark or patent can provide substantial revenue to a business, while maintain the goodwill and reputation of a business. Understanding some of the crucial provisions of a contract, which governs intellectual property and how they are drafted and negotiated, is the most important facet of intellectual property licensing. The Law Offices of Ravi K. Nigam is able to provide counsel and guidance on every step of the drafting and negotiation stage to the final day of signing.
International Intellectual Property Law
As the United States become more involved in international affairs and as Congress and the President has repeatedly entered into international treaties relating to intellectual property, it is more important than ever to understand the effect these treaties and international law have on a U.S. company or citizen’s legal rights national and internationally.
For example, how does a U.S. Company enforce and protect U.S. intellectual property rights in another country under international law and domestic law? Or how does a U.S. citizen enforce and protect U.S. intellectual property rights in another country under international law and domestic law? Or how does one purse a legal cause of action for infringement of U.S. intellectual property being outside the jurisdiction or territories of the United States? These are important questions that need to be answered.
The Law Offices of Ravi K. Nigam are committed to provide high quality affordable legal services that relate to intellectual property. Whether you seek protection, registration, enforcement, licensing or are defending a claim, we are able to provide you legal services every step of the way. Contact the Law Offices of Ravi K. Nigam today to obtain a legal consultation to discuss your intellectual property needs.