What is Intellectual Property?
A symbol or logo that represents a business organization and speaks on its behalf to the mass audience and helps in converting them to ultimate customers are regarded as intellectual property (IP). Now, these properties are intangible assets of a company that not only helps in gaining customers but also helps in enhancing a company’s goodwill in the competitive market. According to the research, there are different kinds of intellectual properties. These include:
A patent mostly deals with inventions. It covers 3 types of IP:
- Industrial Design
A trademark is a legal sign that is used to distinguish the goods and services a business firm provides from its competitors. To register a trademark one can:
- File a “use” application after using the mark
- File an “intent to use” application before using the mark
3. Trade Secret
A trade secret relates to a formula, process, confidential info that is private to an organization. Few examples include:
- Survey Results
- Computer Algorithms
A copyright consists of literary works, artistic works, recordings, etc.
What are Intellectual Property Rights?
The rights of an organization that gives them the flexibility to make any kind of changes in the intellectual assets are known as intellectual property rights. The owner of IP rights solely holds the power to make any alterations to their creations.
Irish Patent Office
Irish Patent Office is an organization that is responsible for granting of patents, industrial trademarks, and designs. The central mission of the Patent Office is “to provide an efficient and effective system of industrial property protection that will encourage technological progress and promote enterprise through the implementation by the Office of the relevant legislation”.
The procedure of applying for a patent in Ireland
The procedure of applying for a patent in Ireland includes the following steps:
- Request for the grant of a patent by filing an application
- A description regarding the invention needs to be submitted
- An abstract that contains the summary needs to be submitted along with the application fee
Format of a Patent Application in Ireland
A patent application in Ireland contains the following components:
- The title
- A description of the invention
- Drawings, if relevant
Procedure of Applying for a Trademark in Ireland
- Request to register the mark
- Name and address of the person requesting the registration
- Representation of the mark
- A statement of the list of goods and services for which the registration mark is required
Fee Structure for Different Patent Types in Ireland
|Type of Patent
3rd Year Renewal Fee
4th Year Renewal Fee
Patent Registration Fees in Ireland
|If the application contains goods or services in more than one class
||€70 (each class)
Duration of Copyright Protection in Ireland
The copyright protection period for intellectual property depends on the type of intellectual property:
|Category of Work
|Literary, Dramatic, Musical Works
|Computer Generated Works
Why Does a Business Need Intellectual Property (IP) Services?
As we have seen that the intangible properties ultimately represents an organization, so it becomes the responsibility of the organization to protect these assets. They need to have a legal possession upon them so that any alteration that needs to be done, can be done only by the organization. Holding IP services gives a protection from being replicated, altered, or misused by any other competitor.
Benefits of Availing Intellectual Property Services
Possessing a right to one’s creation is a big thing. The human creations are well preserved by an organization and as they play an integral part in business growth and development. Let’s understand the benefits that an organization can derive by availing intellectual property services:
- The possibility of business growth enhances to a large extent
- Intellectual properties ease the process of acquiring market share
- Creations can be transformed as a medium of cash inflow
- Intangible assets magnify the goodwill of an organization
- Holding an intellectual property stabilizes the organization among its competitors
Business Setup Worldwide is an international platform that provides a broad spectrum of services related to company expansion and business setup in foreign lands. Clearing the legal proceedings, the establishment of business foundations, and intellectual property services are the key roles in our range of services. Our business experts do take care of the necessities and build the framework to provide the intellectual property services. Apart from dealing with the legal aspects, our business experts also take care of the financial front, taxation issues required to establish a business at an international level.