Do you know how to protect your ideas, inventions or brands?

Intellectual property (IP) and industrial property (PII) cover rights that protect the creations of the human intellect, inventions, and distinctive signs that allow products and services to be identified in the market. Protecting these assets encourages innovation, generates competitive advantages, and contributes to economic development.

Patents are exclusive rights granted to inventors over their inventions, whether products or processes, that offer a new and valuable solution to a technical problem. Obtaining a patent involves:

• Disclosing the invention in detail.
• Allowing the owner to exploit it commercially for a certain period.
• Generally 20 years.

The granting of a patent requires meeting several requirements: novelty, inventive step and industrial applicability. These criteria ensure that the invention is new, innovative, and practically applicable. Inventors must focus and determine to meet these criteria, as patent protection prevents third parties from using the invention without authorisation and opens the door to licensing agreements and collaborations that can result in significant economic benefits.

Trademarks are distinctive signs that identify and differentiate products or services in the market. They can be words, logos, sounds or even colour combinations. Registering a trademark gives the owner the exclusive right to use and protect it against unauthorised use by third parties.

Registering a trademark protects the company’s identity and contributes to building a solid and trustworthy reputation in the market. A recognised and protected brand can become one of a company’s most valuable assets, facilitating its expansion and strengthening its competitive position.

Industrial designs protect a product’s aesthetic appearance, including its shape, configuration, pattern, or colour. This protection is crucial in industries where aesthetics is decisive, such as fashion, furniture, or technology.

Registering an industrial design gives the owner the exclusive right to use it and prevent others from reproducing or imitating it without permission. This protection, generally 5 years renewable up to a maximum of 25, allows companies to capitalize on the originality and attractiveness of their products, differentiating themselves in an increasingly competitive market.

Protecting our ideas and inventions is only one side of the coin. In business, it is equally crucial to respect third parties’ intellectual and industrial property rights. Failure to comply with these rights can lead to costly litigation, penalties and reputational damage.

To avoid violations, companies must implement legal compliance and due diligence practices. This includes conducting searches and analyses before launching new products or services and ensuring that pre-existing rights are not violated. In addition, it is advisable to establish internal training and awareness policies on the importance of IP and PII.

Another essential strategy is properly managing contracts and licenses related to IP and PII. This applies not only to obtaining licenses to use third-party technologies or brands but also to managing internally generated IP rights. Agreements must be clear and detailed, specifying the conditions of use and the parties’ obligations.

Finally, companies must establish mechanisms to monitor and defend their IP and PII rights. This involves monitoring the market for potential violations and acting quickly to protect intangible assets. (E&J)