Intellectual property, also known as IP, is anything that has been invented or created by the mind. This can refer to artistic work, symbols, images, names, and literary works to name a few. IP is protected by law, through trademarks, patents, copyright or design right.
As World IP Day falls on April 26th, 2022, we wanted to cover the basics of IP for young entrepreneurs, including how to protect intellectual property. This includes what rights are automatically applied within the UK.
What is intellectual property?
IP is a unique concept that has been created with your mind. UK IP law does not protect ideas, but anything that results from your idea. This means IP could be the branding and name of your product or business, a new invention, how your invention looks, or your unique services.
IP is known as an intangible asset, which means it is not usually a physical thing. Intangible assets such as IP can be more difficult to protect but securing your IP will protect your concept now and in the future.
Why do young entrepreneurs need to know about intellectual property?
As a young entrepreneur looking to start a business or improve your community, securing your IP will lower the possibility of someone else copying your IP. IP law in the UK gives you protection and rights if someone were to use your IP without your permission.
Young entrepreneurs must know about IP to protect their business. Even if you do not have your own IP, you should know what IP is. This prevents you from accidentally copying someone else’s IP.
How to protect intellectual property
Some rights will already automatically apply to your IP in the UK, but this does depend on the type of IP you have created. The two main ways to protect your IP are through copyright or design rights.
Design rights
A design right is a specific type of protection for IP in a physical product. In the UK, you automatically get design rights without registering your design, which can stop other businesses from using your design without your consent. You do not need to apply for this or pay anything, but you may want to register your IP design for extended protection.
When it comes to design rights in the UK, the amount of time your IP is protected will depend on the design. For example, how your design is arranged (such as the structure and shape) will be protected for 15 years after creation or 10 years after being sold.
To prove your right, you must have evidence of when your IP was created. When you create a design, you should consider getting photos or drawings dated and signed by a third party, such as an IP attorney or solicitor. This will help if you want to make a case against someone using your IP. The government IPO (Intellectual Property Office) can also help if you have a dispute regarding your design.
Copyright
Copyright can protect your IP and stop anyone else from using it unless you have permitted them. You will get copyright protection automatically in the UK, without registering or paying. This applies to everything artistic from a literary work to film and television recordings and computer programs. You cannot copyright an idea. You must have a created work, such as a brand name or website.
You can use the copyright symbol if you want, but this does not influence your copyright protection. Each type of copyright protection lasts for a different length of time, depending on what it is. You can find out more about how long copyright lasts on the government website.
World IP Day and young entrepreneurs
World IP Day falls on April 26th, every year. The focus for 2022 is how IP can be used to innovate for a better future. Young entrepreneurs can use IP to generate new jobs, accomplish goals, create income, deal with local and international challenges, and support their local community, as well as national development. You can find out more about World IP Day on the World Intellectual Property Organization website.
As young entrepreneurs use their creative minds to find better solutions to local and global problems, IP can be used to celebrate their successes and ensure they get the recognition they deserve.
If you need advice in relation to intellectual property, visit our dedicated IP page or contact Ramsdens Solicitors for impartial, professional legal advice today. Call us on 01484 821 500, or fill out our online enquiry form to request a call back.