There have been various forms of intellectual property (IP) which encompasses patents, trademarks, copyrights, etc. To know more about IP, please refer to the article “What are Intellectual Property Rights?”. Amongst different forms of IP, patents have been unarguably the best mode of IP protection available to any invention in the form of a product or a process. However, recently, trade secrets have become an important part of the IP portfolio of any organization.  Both patents and trade secrets can be used to protect inventions, formulae, process steps, and ingredients in a composition. However, it depends on the nature of the information and the applicant who is required to assess the best mode of protection for such information. To do so, it is essential to understand the important ingredients and requisites of patents and trade secrets. While the law relating to patents is codified and well developed through judicial precedents,…

Intellectual Property (IP) encompasses intangible assets such as patents, copyright, trademarks, industrial design, geographical indications, and trade secrets. Intellectual Property Rights are conferred to the intellectual property owners to restrict others from copying their creations. The creations could be inventions, books, music, songs, brand names or trademarks, product designs, confidential information, etc. Depending upon the type of intellectual property, protection may be conferred automatically for a few, and for others, the intellectual property owner must apply for protection in desired countries. Types of Intellectual Property (IP) Protection Types of ProtectionTypes of Intellectual PropertyAutomatic ProtectionCopyright (advisable to register) Trade Secrets (however steps should be taken to keep the information secret)To Be Applied for ProtectionPatents, Trademarks, Industrial Designs, and Geographical Indications. One Product – Multiple Intellectual Property Rights Depending upon the subject matter involved, a product includes multiple intellectual property rights i.e., a product can have underlying intellectual property right protection under…