Trilegal Nepal not only registers your creation under Intellectual Property but also provides you with all the necessary consultation.
Intellectual Property Right can be simplified as rights granted to the creator of his/her creation. It is a legal right established with the sole motive of protecting the creation of the intellect. Any sort of inventions, such as: literature, designs, music, logos, images etc. can be copied, hence to protect and restrict misusing of the creations, Intellectual Property Rights can be very advantageous.
Intellectual Property Rights assures the creator that their work will be safeguarded and they will completely posses the right for usage of their creation. There are four main types of intellectual property rights such as trademarks, copyrights, patents and trade secrets.
1. Trademarks: Trademark is one of the most familiar intellectual property rights that have been implemented globally. It can be defined as a unique sign, symbol or a word that represents a business or its products that are legally registered. Once the registration is done, no other organizations or business houses can use the same sign, symbol or word forever.
2. Copyrights: A copyright is usually implemented for original work of art, music, videos, literature etc. It does not necessarily protect the ideas but protects the tangible forms of creations of a creator. The owner has the exclusive right to distribution, reproduce or to perform their work publically.
3. Patent: A patent right governs inventions and prohibits any other third party from making, selling or using the invention for a certain period of time. The creator has the right to commercialize his/her inventions to a third party on mutual agreement by selling his/her patent rights.
4. Trade Secrets: The formulas, formation, strategies or any other valuable information that are not to be made public and restricts its’ commercial usage by others are regarded as Trade Secret.
Why are Intellectual Property Rights favorable?
Intellectual Property Rights provides a support to the creators to continue producing their things and be assured that their creations will not be misused at any cost. For e.g. music producer will be discouraged if his/her piece of work is copied by some third party without his knowledge.
Intellectual property rights are an asset to your business and many aspects of your business can be fortified under Intellectual Property Rights such as your company name, logo, designs, inventions etc. It keeps your business apart from competitors and is an essential part for your marketing and branding purpose.
Intellectual Property is very vital for any business houses since it’s the mode of corporate identification of their products/services. If a third party uses your ideas without permission, it can make your business suffer and deteriorate your branding in the long run. Intellectual property theft has significantly increased with the introduction of internet and this makes intellectual property protection more important. Business growth can be easily hampered by competitors; hence if a company aims to introduce something unique to the market, it is important to use patents, trademarks or copyrights depending on your product/service to promote business growth and gain revenue. Intellectual Property Rights not only carter to established business houses but to even small business houses, individuals etc.
Intellectual Property Rights in Nepal
Nepal finalized a long unsettled policy of Intellectual Property Rights in the year 2017. Nepal understands the advancement in Intellectual Property globally and targets to achieve economic prosperity by protecting all aspects of Intellectual Property. Nepal is a land of opportunity for new investors but for multinational companies the main issue has been the protection of their brands in Nepal, we can easily find duplicate products of reputed brands throughout Nepal. The Department of Industry under Ministry Of Industry (Government of Nepal) acts as a semi- judiciary in protecting industrial property disputes. The Department is also the focal point of all international organization including WIPO (World Intellectual Property Organization) and has recently received a membership for Paris Convention for Industrial Property. The Copyright Act; 2059 (2002) and Patent, Design and Trademark Act; 2022 (1965) governs the Intellectual Property Rights in Nepal.
Trilegal Nepal has a long history in all legal aspects and Intellectual Property Rights is one of the most dominant areas of work demanded by many of our valued clients. Trilegal Nepal not only registers your creation under Intellectual Property but also provides you with all the necessary consultation.