Buzz
The idea of safeguarding intellectual property—defined as any product born from an idea—dates back to as early as 500 BCE, when Greek chefs were granted exclusive one-year rights to create particular dishes. While the protection of intellectual property has evolved greatly since that time, its fundamental purpose remains unchanged: to prevent unauthorized duplication of ideas and, consequently, to inspire the creation of new innovations. Copyrights, trademarks, and patents are the primary means of protecting intellectual property. However, the types of protection they offer, and their durations, vary significantly.
Intellectual Property
As NYU Law professor Christopher Jon Sprigman explains to Mytour, “Copyrights and patents share the same overarching goal; they simply approach it from different perspectives.” He elaborates, “Copyrights apply to new artistic and literary creations; patents, on the other hand, cover new scientific and technological innovations.” Thus, copyright applies to works such as books, plays, and films, while patents protect items like pharmaceuticals, inventions, and technologies.
While copyrights generally endure for the author's lifetime plus 70 years, patents are only valid for 20 years from the filing date. This means a patented idea enters the public domain and fosters fair competition much sooner, which is logical since scientific and technological advances provide immediate benefits.
As NYU Law professor Jeanne Fromer explains to Mytour, “This is why drug prices are often so high while a patent is still in place, and then dramatically drop once a generic manufacturer enters the market to compete.” Greater benefits for the public and a more competitive free market? That’s the ultimate goal of intellectual property protection.
Trademarks
Trademarks stand apart because they don't protect artistic or technological creations, but rather, the companies behind them. “They help consumers navigate the diverse offerings in a competitive marketplace,” says Sprigman. While logos and brand names are the most recognizable trademarks, other elements like scents, designs, and sounds can also be trademarked. For example, the scent of Play-Doh, the NBC chime, and Coca-Cola's distinctive bottle design are all trademarked. As long as they are actively used, trademarks can last indefinitely.
Copyrights
Copyrights are automatically created as soon as you create something, whereas trademarks are immediately formed through their use in commerce. From the photos you share on social media to the articles on your blog, everything falls under copyright protection, while your family business name has certain common-law trademark protections. However, registering your copyright allows you to claim statutory damages in infringement cases, which can amount to up to $150,000 (and you may also recover attorney’s fees). For unregistered copyrights, proving actual damages, like loss of revenue, is much more difficult and might result in a smaller payout. Similarly, registering a trademark gives you exclusive nationwide use, making registration worthwhile.
Patents
Unlike copyrights and trademarks, patents are not granted automatically. To obtain a patent, the application must include a detailed description of the scientific or technological work. After filing, the application is examined thoroughly by a specialized [PDF] patent examiner to ensure the item meets the standards. Patents offer the broadest protection but come with the most stringent approval process.
Despite the significant differences between copyrights, patents, and trademarks, they all serve to protect the creators of intellectual property and, ultimately, the public. So, the next time you invent something new—whether it’s a book, a groundbreaking device, or a company logo—consider making it official with the United States Patent and Trademark Office or the U.S. Copyright Office. You could enjoy the benefits for many years to come.
