What is Intellectual property?

It is your imagination made into reality. It is the ownership of your dream, an idea, an improvement, an emotion that we can touch, see, hear, perhaps even taste. It is an asset, just like your home, your car, or your bank account. Just like other types of personal property, intellectual property needs to be protected from unauthorized use.

There are 3 different and distinct categories of intellectual property. One category is a patent, a second category is a trademark (or service mark), and the third category is a copyright. It is recommended that an inventor hire a professional patenting agency such as InventHelp or a registered patent attorney or agent to prosecute a patent or a trademark.

There are many facets to a patent and trademark. It is not a simple or easy process. The final costs of a patent or trademark will be determined by the patent attorney or agent hired. The attorney or agent will charge the inventor a fee to provide their services. There are no set rules or regulations as to what a patent attorney or agent may charge. The only fixed costs are from the United States Patent and Trademark Office.

A patent is a kind of limited monopoly power granted by the United States to an inventor. While the patent is in force, it gives the inventor the right to exclude all others from making, using, or selling his/her invention within the United States, her territories and possessions. A United States patent is available to any inventor regardless of age, sex, or citizenship. Corporations, partnerships, or any type of business entity can never be issued a patent. They may however acquire an interest in a patent through assignment or a licensing agreement as was described in this article onĀ

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