Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Intellectual Property and other Invention topics.
Intellectual property is protected in one of four ways: patents, trademarks, copyright and trade secret.
Patents: A patent is a right granted by a government to an inventor. It gives the inventor the exclusive right, for a limited period, to stop others from making, using or selling the inventor's product without the permission of the inventor.
Trademark: A trademark is a name, symbol or other device that identifies a product, officially registered and legally restricted to the use of its owner or manufacturer.
Copyright: A copyright is a legal right granted to an author, composer, playwright, publisher, artist or distributor to exclusive publication, production, sale or distribution of a literary, musical, dramatic or artistic work.
Trade Secret: A trade secret is a secret formula, method, or device that gives one an advantage over competitors. While patents, trademarks and copyrights are legally filed for, the responsibility for protecting a trade secret rests solely on the owner or enterprise.