by Michael Totten

Created on: March 24, 2010

Patents, trademarks, and copyrights are all different types of intellectual property. Intellectual property protection grants creators and inventors limited monopolies on the use of their creation, invention, or innovation for a fixed and finite period of time. It also protects brand names.

A patent is the form of intellectual property protection which applies to new inventions or innovations. Patentable inventions and innovations include, but are not limited to, alloys, machines, manufactured articles, and processes. In the United States, patent law is based on

Title 35 of the United States Code, which states what types of innovations are covered by patent protection, the nature of the protection, and how long patent protection lasts. The most common term of patent protection is 20 years, which is also the minimum under the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

Copyright is the form of intellectual property protection which applies to original and fixed works of authorship. In the United States, copyright law is based on the 1976 Copyright Act, which states what types of works are covered by copyright protection, the nature of the protection, and how long copyright protection lasts. The most common term of copyright protection is the life of its creator, plus either 50 or 70 years.

Unlike copyright and patent, a trademark is itself a form of intellectual property. It consists of a symbol, word, or sound which represents a business, non-profit organization, or individual. When applied to a service rather than products or packaging, a trademark is sometimes known as a service mark. Trademarks have no term of protection.

Copyrights are automatic for all qualifying works of authorship. They do not need to be registered. Patents must be registered with the U.S. Patent and Trademark Office. Trademarks may be registered with the U.S. Patent and Trademark Office (R) or left unregistered (TM, or SM for a service mark).

Copyrights and patents do not require their owners to make active use of their creation, innovation, or original design to maintain their protection. However, the onus is on the author or inventor to act if others are using that creation, innovation, or original design illegally. This may require the author or inventor to file a lawsuit.

The intellectual property rights associated with a trademark depend on the trademark's continued lawful use, and usually lapse after 5 years of non-use. Such a trademark is deemed to have been abandoned, and may be registered anew by anyone. Legal protection may also be lost if a trademark becomes identified too closely with the generic product. Famous examples of genericized trademarks which have lost all legal protection are the escalator (Otis Elevator Company), the thermos (Thermos GmbH), the yo-yo (Duncan Yo-Yo Company), and the zipper (B.F. Goodrich).

Designating copyrights, patents, and trademarks as property enables their creator or inventor to lease or sell ownership rights during the term of protection, or to exclude others from the use of their property. A person or business which purchases a copyright, patent, or trademark becomes its new proprietor.

Copyrights, patents, and trademarks should not be confused with licenses. Licenses are a type of contract which grant a named person or business a limited right to use or reproduce a designated property according to the terms of that license. The owner of a copyright, patent, or trademark can license its use, with or without restrictions, to another person or business.

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