Intellectual property is an umbrella term for tangible or intangible assets owned and legally protected by a person or company. A person or company protects intellectual property from outside implementation or use without permission or consent. Examples of intellectual property assets can include patents, copyrights, and trademarks.
Types of Intellectual Property Assets
1. Patents
- Includes inventions, industrial designs, and computer code
- Duration is 20 years
2. Trademarks
- Unique identifiers for a business and its products and services (e.g., brand names, logos)
- Duration lasts as long as the trademarked material stays active
3. Copyright
- Includes works of authorship, including poems, books, music, films, online content, photographs
- Duration is 70 years after the author dies
Intellectual Property Infringement in Cook County
When a third party engages in unauthorized use of the asset, it’s intellectual property infringement. After some time, legal protection for intellectual property expires, but some (like, trademarks) last forever. IP infringement is often done unknowingly, so be sure you or your business aren’t using trademarked or copyrighted material.
There are many different penalties for intellectual property infringement, including fines to prison sentences. An intellectual property lawyer specializes in this process and can ensure you are not using anyone’s protected intellectual property.
Do You Have Questions About Intellectual Property?
Call to book a consultation with one of our business lawyers in Schaumburg. Our team at the Law Offices of Robert M. Kaplan P.C. looks forward to helping you.