Significance Of Intellectual Property Among Creative Entrepreneurs and Artists

Intellectual property is very significant for an artist or a creative entrepreneur. It deals with all those creations for which they are entitled to get specific protection and rights under the law. Artists who fall in this category are film artist, music artists, and professionals, who are involved in literature, creating designs, symbols, phrases, processes and inventions.

Significance Of Intellectual Property Among Creative Entrepreneurs and Artists

What are the different Types of Intellectual Property?

Intellectual property is classified into three different types:

Copyright

It is a type of protection that is offered by the laws of the US to the creators of the intellectual work that has been done in the field of literature, drama, music, art, and other forms of published and unpublished intellectual tasks.

Following are the rights that Copyright Act grants to the owner of artistic work. He can do the below mentioned tasks and can also authorize others to perform them:

  • Replication of the work in the form of phonorecords or copies
  • Preparation of derivative works
  • Distribution of phono records or copies to the public via carrying out sale, transfer of ownership, lease, rental, or lending
  • Performing and displaying different kinds of task such as literature, music, drama, and choreography, motion pictures, pantomimes, sculpture, graphics and other forms of audiovisual works

Trademarks

The main objective of creation of trademarks is to protect words, symbols, names, colors or sounds. It helps in differentiating services and goods from the ones that are manufactured or sold by other people. This is done to indicate them the original source of the goods. Unlike patents, you can renew trademarks for the entire life as long as they are beneficial for commercial use.

A trademark can be defined as a distinctive symbol that is used by an artist, business organization, or any other legal entity. This mark helps in determining that certain services or products for which this mark appears, is created from a specific source, and different from the services or products of other entities.

A trademark is a type of intellectual property which is a logo, symbol, image, design, name, or a combination of these elements.  A range of non-conventional trademarks comprising marks is also there which do not fall into these standard categories, like those based on sound, smell, or color, smell.

Intellectual property lawyers calculate monetary damages that are caused when other website owners violate the copyright, trade names, trademarks, and patents of an artist.

Patents

A patent is a type of a right that can be exercised on intellectual property. This right is provided to all artists and creative professionals by the US Government. Under this right, it prevents others from creating, using, and selling of the products or services that are patented.

Depending on the use, patents are classified into three categories:

  • Utility patents
  • Design patents
  • Plant patents

Conclusion

It has been seen that many of the artists involved in creative services have got only little information and understanding on the subject. Getting a proper understanding on this subject can save them a lot from getting into trouble.

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