trademarks, copyrights Knowledge • Informed Decisions • Execution of Evolving Plan PROTECT YOUR INTELLECTUAL PROPERTY RIGHTS Intellectual property can be a company’s most valuable asset and the acquisition, transfer, license or right to use such intellectual property is often an essential element in many business transactions. Recently, lenders, investors and financial institutions have considered and requested a intellectual property assets as collateral to secure company obligations and financing. In Massachusetts, intellectual property assets may be protected as patents, copyrights, trademarks or trade secrets. In addition, intellectual property may be protected based on theories and principles of unfair competition. The applicability and availability of such protection depends upon the specifics of the intellectual property and the type of protection desired. Also one or more than one form of protection may be applicable and available to certain intellectual property. For example, patent, copyright and trade secret protection is often applicable to software programs. COPYRIGHT LAW Federal law governs most copyrights, specifically the 1976 Copyright Act and its amendments. Copyrights are exclusive rights to original works of authorship [hereinafter the Work]. A Work is the expression of an idea, not the idea itself. Copyright Owner's Rights Vesting of Rights Formalities THE VISUAL ARTS: MORAL RIGHTS The 1990 Visual Artists Rights Amendment to the Copyright Act grants to the author of a work of visual art the rights of attribution and integrity for the life of the author. This right applies to no other type of copyrightable Work. International Copyright Conventions TRADEMARK LAW Typically a trademark is a name or word capable of distinguishing goods or services of one source from those of other sources. Other examples of trademarks include: a symbol, logo, graphic design, phrase, series of letters, set of numbers, three dimensional object, fragrance, distinctive design of container, series of sounds, a telephone number, distinctive combination of colors. Function is not protected by trademark. Federal and State law govern trademarks. The laws derive from the principle that a merchant has an inherent right to the exclusive use of those marks which distinguish its goods or services. No registration is required for trademarks used in commerce. In addition, trademark rights may also be registered based on "intent to use." TRADE SECRET LAW Trade secrets are protected by Massachusetts civil and criminal statutes and common law. A trade secret may consist of any formula, pattern, device or compilation of information or other know-how that is used in a business, and gives that business an opportunity to obtain an advantage over competitors who do not know or use it. Some examples of trade secrets include: confidential business information such as new product lines or marketing initiatives and customer lists, formulae for chemical compounds, processes of manufacture, patterns for machines or other devices. |
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DISCLAIMER: These materials have been prepared by Grenier Law Offices, PC for informational purposes only and are not legal advice. This information is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this information without seeking direct professional counsel. See further notices in our Terms of Use. michelle@contactmylawyer.com |
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