Patents and trademarks are a type of intellectual property rights that give the creator or a business a decent amount of time to utilize his or her products and services exclusively. Entrepreneurs looking to register intellectual property must understand the distinctions between the two types of registrations and secure the appropriate registrations to protect their intellectual property. In this article, we’ll discuss the difference between patent and trademark registration
What is a Patent?
A patent is a legal privilege that grants the Patentee exclusive ownership of an invention for a set period of time. By patenting an innovation, the patentee gains control over the manufacture, use, sale, and importing of the patented product or method without his or her approval. In India, a patent can be applied to a novel product or technique that involves an innovative step and is suitable for commercial use.
What is a Trademark?
A trademark is a visible symbol that can be a word signature, a name, a device, a label, numbers, or a combination of colors that is used by one enterprise on products, services, or other items to differentiate it from comparable goods or services from another business. As a result, trademarks are commonly used to protect brand names, company names, slogans, and other similar items.
In other words, It is a vital sign that identifies your business and helps clients distinguish you from your competitors. Also, By registering a trademark, you get ownership of the logo, name, or brand.
Understand the difference between Patent and Trademark Registration
Patents are mostly used to protect inventions that are either new products or processes with potential for industrial use. Patent protection is far more powerful than other forms of intellectual property protection, such as copyright. Copyright simply safeguards the manner in which an idea is presented; it does not prohibit others from presenting the same concept in a different manner. Patents can also be used as a potent bargaining tactic.
On the other hand, The fundamental goal of a trademark is to prohibit unfair practices by giving brand owners exclusive rights. While patents protect inventive concepts, they seldom protect specific phrases or slogans. Thus, Trademark Registration and Patent Registration both are beneficial in their own ways.
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