A trademark is a one-of-a-kind combination of letters, words, sounds, or graphics, as well as non-traditional indications such as aroma, taste, and texture, that is used to differentiate your company’s goods or services from those of others in the marketplace. A trademark eventually comes to represent your company’s reputation and goodwill.
Registering your trademark in Canada grants you the exclusive right, renewed every ten years, to use the trademark and protect your goods and services in the Canadian marketplace against abuse by others.
Copyright covers a wide spectrum of creative works, including literary, theatrical, musical, or artistic works, performances, and sound recordings. It grants the exclusive, time-limited right to create, reproduce, perform, or publish the work or any substantial portion of it. An original work is automatically protected by copyright the minute it is created; nonetheless, registering your copyright increases the certainty with which you may enforce your copyright in Canada. In Canada, the typical duration for copyright protection is the author’s life plus 50 years.
Secrets of the trade
A trade secret is a type of intellectual property that gets its value from secrecy; it loses value when it is divulged, independently generated, or reverse-engineered. It is a secret formula or method that has commercial value for your company, giving your company an advantage over rivals who do not know about it and maybe known only to a few people in your company. Recipes, formulae, patterns, plans, sales approaches, customer lists, and strategies are some examples.
Trade secrets cannot be registered in Canada, but they can live forever if kept hidden.
Once the secret is revealed, the value of the information to your company is lost. Your company may actively secure its trade secrets by utilizing confidentiality agreements, lock and key, encryption, and other methods.
Ontario Intellectual Property
Learn about a new Ontario organization that will provide intellectual property assistance and services to businesses and researchers to help them expand their innovation and market prospects.
Create a plan for intellectual property
As you establish and build your firm, you must have an IP strategy. It can assist you with:
- produce monetary worth your intangible resources
- protect legal rights
- protect yourself from lawsuits
- develop your brand and seek funding
- create new business alliances
An IP strategy, like a company plan, does not have a one-size-fits-all approach. It is determined by the stage of your business, your sector, target market, business goals, and so on, and should develop as your company grows.
Avoid frequent IP blunders
Early mistakes can be costly to your firm, but with the correct IP understanding and an effective approach, you can prevent them. Did you know that:
- If you publicly disclose your innovation, such as a photo on social media, you may only have 12 months from that date to apply for patent that idea in Canada before anyone else can freely use it.
- A trade secret cannot be registered in Canada, but there are ways to preserve its confidentiality, such as establishing confidentiality agreements with your workers, contractors, and suppliers.
- A patent in Canada has a time restriction of 20 years, and an industrial design has a time limit of 10 years from registration or the end of 15 years from the filing date of the application, whichever is later. If you wish to be protected in other countries, you must also file for a patent or industrial design in those nations.
- By trademarking your brand in other countries, you may prevent counterfeit brands from appearing in other marketplaces.
- Non-profit organizations must respect the intellectual property rights of others, although they may be eligible for fair-dealing exemptions under Canadian copyright rules.
Intellectual property and not-for-profit organizations
Intellectual property also applies to non-profit organizations.
It is critical to understand intellectual property (IP) to secure your organization’s IP and obtain authorization to utilize others’ IPs.
A not-for-profit or charity organization that wishes to replicate another’s copyright-protected work must acquire permission and may be required to pay copyright royalties under Canadian copyright law. There may be various exclusions about what is known as fair dealing under Canadian copyright law.
Find intellectual property counsel and assistance
The Centre for International Governance Innovation and the University of Toronto both provide free online courses that cover the fundamentals of intellectual property protection and strategic use of IP for competitive advantage.
The Canadian Intellectual Property Office (CIPO) and the Innovative Asset Collective (IAC) provide IP education for businesses and inventors.
Please consult a lawyer for legal advice.
Intellectual property business loans
The Business Development Bank of Canada (BDC) provides up to $100,000 in small business loans that can be used to file for a patent, trademark, or other intellectual property protection.
Take part in the intellectual property game
BDC has created an intellectual property game to help you grasp the fundamentals of intellectual property and protect your intangible assets.
Keep your trademark safe
Consider registering a trademark for your company or non-profit organization.
Register your trademark with the Canadian Intellectual Property Office.
Keep your copyright safe
Register or transfer copyright to your company or non-profit organization.
For more details please visit our website:https://www.trademarkdepot.ca/
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