In the time you’ve been running the business, your clothes are well known for their bright colours and retro style.
But recently, another clothing brand has emerged. Calling itself Freezing Shirts, its clothes are also brightly coloured and retro styled. Its logo even looks suspiciously similar to yours. Its presence is confusing your customers and even eating into your revenue. What can you do?
This is where intellectual property (IP) protection comes in. IP protection allows for companies to protect their creations from being misused by other entities.
As IP is a complex area of law with many nuances, please do not use this article as a substitute for legal advice. Always consult a lawyer before making a decision.
WHAT IS INTELLECTUAL PROPERTY?
Whether we notice it or not, intellectual property is all around us. Every product that we use is the result of a long chain of innovation. Take for example a pen. Laszlo Biro’s famous patent on ballpoint pens changed the way pens were made. The logo on your pen is a trademark—a form of IP which identifies the brand owner.
And this would be the case with almost any product or service in the marketplace. A smartphone for example contains hundreds of thousands of patents, each relating to a particular function. The Bluetooth module alone contains at least 30,000 patents. The smartphone brand would be protected by a trademark. And if you play music on your smartphone? That song is protected by copyright.
IP is protected by law. This enables the IP owner to earn recognition or financial benefit from what they invent or create. These laws grant IP owners time-limited rights to control how their creations can be used. IP owners may either keep these rights to themselves, or sell it for monetary value.
Denne historien er fra September 2019-utgaven av SME Magazine Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 2019-utgaven av SME Magazine Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Cloud- Driven Recovery
With digital transformation being an important catalyst for Malaysia’s inclusive economic recovery, cloud computing plays an important role that enables . the country to acquire the advantages that technology offers.
Live Werkz: Venturing Beyond Southeast Asia
Being forward-looking in its approach has enabled LiveWerkz Pte Ltd to survive the Covid-19 pandemic, says vice president Tricia Ng. Despite being a Singaporean company, the company does not focus its efforts in the Southeast Asia region. Instead, Greater China and the Middle East become the foundation for its businesses. Ng tells SME the company’s strategies in facing a challenging future.
Singapore's Go Digital Well Received
More than 78,000 of Singapore’s SMEs have participated in the country’s Go Digital programme since its 2017 launch, with more about 40,000 becoming participants last year, including 30,000 that received Covid-19 incentives from the government.
Accountants And SMEs: Creating A Sustainable World
For SME finance professionals, ‘sustainability’ is about achieving longevity. However, there is a confusion over different definitions of sustainability. They recognise the growing importance of tackling sustainability issues but lack the understanding of how doing this can be integrated into day-to-day practices within the finance function.
Rebuilding Our Mental Well-Being In Sales
Sue Barrett is a writer, training provider and entrepreneur who founded Barrett in 1995 to positively transform the culture, capability and continuous learning of leaders, teams and businesses.
Omicron: A Test Of Resilence
Global manufacturers have been facing a supply chain crisis since the start of the year. Just as it appeared that the situation was beginning to stabilise, the Omicron Covid variant reared its ugly head.
Silver Lining In The Cloud
Although RAS Security Pte Ltd’s business was adversely affected by the pandemic, there’s a silver lining in the cloud. The occurrence has necessitated the company to innovate its business model to remain viable and led to the discovery of new areas of security service provision. Managing director Tejdeep Singh shares his journey.
Accelerating Artificial Intelligence
Singapore is introducing two new public artificial intelligence (AI) programmes as part of the strategy to use technology for social and economic good, involving a total allocation of S$680 million to accelerate AI research. The latest initiatives require a funding of S$180 million.
Three Tips For Hiring Top Talents
BIG EGOS LOSE TALENTS First up, when it comes to hiring, you must put aside your ego.
The Economy Is Recovering, But What About People?
All signs are pointing towards a speedy recovery. Contrary to what this writer initially predicted, the economy seems to be genuinely recovering.