What is Intellectual Property?
Once a business entity comes under the stage of incorporation, it needs to hold certain symbols or logos that would represent the business organization and speak on its behalf. These symbols are a depiction of human intellect, creativity, are considered as intangible assets, and are known as intellectual properties. They help a company recognized both at national and international level. Now, these creations have been categorized based on their needs and usage. The categorization of intellectual property can be made under two heads, broadly:
1. Industrial Design
Industrial designs represent the visual design of manufactured or produced goods. They hold multiple features like shape, color, patterns etc. These designs include trade secrets, trademarks of an organization that needs to be protected and for that, they need to be registered.
Copyright is an intellectual property right that allows the creator to hold a right to its creation. Copyright includes literary works, music, artistic works, computer software, and architecture.
What are Intellectual Property Rights?
The right possessed by an organization on its intellectual properties are known as intellectual property rights. These rights give the power to a business entity to make any kind of alteration in the intellectual property.
Intellectual Property Symbols
When a piece of art or any goods are protected under intellectual property right, they hold certain symbols. Different intellectual properties use different symbols that assures their safety and also signifies that they can’t be copied. Let’s have a look at the intellectual property symbols widely used along with their meaning.
|Sound Mark: Phonogram
Trademark Registration in the Czech Republic
A trademark registration in the Czech Republic can be carried out by following a few steps:
- Request for Trademark Registration
- Company name and address along with the name and address of the applicant needs to be submitted
- Figurative picture of the trademark needs to be submitted
- Signature of the applicant or his representative
Examination Procedure of Trademark in the Czech Republic
The examination procedure of trademark in the Czech Republic initiates from the point of submission of a trademark application. Along with the application certain other documents need to be submitted that will undergo the process of examination. Other documents include:
- A picture of the trademark
- Name and seat of the applicant
- Class and list of goods
- Signed power of attorney
Upon submission of these documents, the trademark fee needs to be paid. They will be cross-checked and verified by getting in contact with the National Trademark Register, International Trademark Register. Once the procedures are cleared, the mark will be published in Czech Industrial Property Bulletin.
Fee Structure for Intellectual Properties in the Czech Republic
The fee structure for intellectual properties in the Czech Republic is as follows:
Trademark Comprehensive Study Fee
||Word Mark or Logo
|Each Additional Class
||3 business days
||3 business days
Trademark Registration Fee
|1 to 3 Classes
|Each Additional Class
Patent Registration Fee
||Fee (Czech Koruna)
|Fee for registration of an assignment
|Basic examination fee
|Fee for the first extension of the time limit
|Fee for requesting excuse of the failure to comply with a time limit
|Fee for issue of letters patent not exceeding 10 pages
|Fee for issue of letters patent for additional page
||Fee (Czech Koruna)
|First renewal fee
|Second renewal fee
Intellectual Property Administrators in the Czech Republic
Since we have seen that intellectual property is a big umbrella that consists of different categories, to manage them at one go at a national level is a complex task. To ease out this process, there have been six collective administrators who act on the basis of authorization granted by Minister of Culture. The administrators are:
An organization that deals with different departments for copyright. It represents the author of literary, dramatic, choreographic works, entertainment hub, etc.
An organization that represents authors of musical work like musical composers and lyricists.
Represents performing artists and performers of audio and audio-visual recording.
Represents authors of artworks that include painting, graphic works, photography, architects, stage designers, etc.
Deals with authors of artworks in enforcement for resale of their original work.
An organization that represents sound engineers-authors.
Benefits of Availing Intellectual Property Services
Till now, we have seen what intellectual property means and how it is utilized by a business entity for its daily business activities. Now, let’s move on to look at the benefits that can be derived by an organization by availing the intellectual property rights. Some of the benefits include:
1. Company Expansion
Since the intangible assets represent an organization and hold its brand value, it helps in the company expansion process and captures a huge market by creating brand awareness.
2. Market Value
Intellectual properties or intangible assets are the representatives of an organization. It helps in building a link between the mass audience and the company. These assets shoot-up the market value at an increasing rate and make sure to place the product in the minds of the consumers.
3. Trust Building
When a company is well-known at a national or international market, it possesses the power to attract foreign investors. Now, this is a two-way benefit, for the company as well as for the investors. Intangible assets help in building trust that is an important factor when it comes to expansion or enhancing goodwill.
4. Fund Raising
Intellectual properties help a business entity to raise fund from the market whenever required backed by trust building and brand value.
Business Worldwide Setup Intellectual Property Services
Business Setup Worldwide is a platform that provides a range of company establishment services. We understand the legalities involved in a business establishment process, and help our clients with intellectual property protection in the Czech Republic. Few of the services that we provide are:
- Maintenance of Czech Republic Patent
- Registration of intellectual properties
- Recording a license contract
- Brand valuation
- Resolving IP disputes
- Assurance and protection of IP across borders
Business Setup Worldwide, since its inception, has been dealing with multiple countries from various corner of the world and has been helping in the process of company formation. The main aim is to sort and simplify the complex process of company formation. Our business experts not only help in gaining the intellectual property rights but also helps in solving any legal proceedings.