Getting into an intellectual property dispute is nothing you want to deal with as a business owner or creator of a product or service. To prevent this from occurring, it is crucial that you understand intellectual property and what rights, if any, you have.

Intellectual Property

Intellectual property is a piece of intangible property. It is made up of a set of rights that control the use, ownership, and the sale of an item that is created using a person’s creativity and intellect. This includes machines, logos, or music.

The value of IP is continually increasing, and protecting it is becoming increasingly important and more difficult as time passes.

The increase of internet use is a significant force in the rise of IP disputes.

Intellectual Property Disputes

IP litigations are generally quite complex bet-it-all environments. They typically involve some damage issues, particularly with regard to the changes in the case laws.

You need to work with a damages expert that specializes in the necessary tactics to be successful in litigating or defending intellectual property.

The following are the types of damages that are generally dealt with in IP litigations:

  • Reasonable royalty
  • Convoyed sales
  • Price erosion
  • Lost profits
  • Market value
  • Excess costs
  • Lost investment value
  • Lost business value

Different Types of Intellectual Property

There are four general types of IP:

  1. Copyrights: This can include music recordings, writings, plays, films, and any creative works that are transformed into a tangible object.
  2. Patents: This category includes inventions or other technical or mechanical innovations.
  3. Trademarks: This includes slogans or logos used to identify a product or brand. Trademark law also covers trade dress or service marks.
  4. Trade Secrets: This includes instructions, recipes, production methods, and additional information that provides a business or person with an edge over the competition that is not typically available to the public.

Common Types of Intellectual Property Disputes

The most common IP dispute is infringement. It is when IP is appropriated or used without the owner’s permission. Infringement can apply to almost all IP categories. Therefore, there can be infringement on copyrights, patents, and trademarks.

Some of the most typical ways infringement happens include:

The use of a logo for a product on a different product that is in the same niche as the first.

  • The creation of a logo, or using trade dress in such a way, that is meant to cause buyers to believe they are buying a product that bears a strikingly resemblance to the initial product.
  • Creating copies of movies, music, and other forms of media and passing out those copies without consent of the copyright owner.
  • The manufacture of patented items through the use of the directions listed within the patent with no license from the owner.

IP disputes can also come about in corporate espionage, including the bribing of employees of the competition to provide secrets of the business, such as a list of clients.

IP disputes can also happen with a producer of services or goods thinks that the product is safe through IP law when it fact it is not. This demonstrates the importance for producers and manufacturers to have their products registered to make sure they are protected.

Some Remedies for Intellectual Property Disputes

There are some remedies to an IP dispute, including:

  1. Monetary damages that are meant to compensate the violated person or party for any losses that were caused by the infringement.
  2. Cease and desist orders that are used on a frequent basis when trademarks are used without permission.
  3. The confiscation of any property that is used to create the infringement products.

These remedies will rely on the violation that is committed. Sometimes, criminal charges may also arise for the party that infringed on these laws.

Is a Lawyer Needed in Resolving an Intellectual Property Dispute?

An IP dispute can be very costly to individuals and businesses, causing a significant loss of profit and revenue. You need to consider hiring an intellectual property attorney in your area if you want assistance with an infringement problem. Your lawyer will also give you the legal research and help for your type of claim. In addition, if you have to bring a lawsuit or go to court, your attorney can help you with that as well.

If you need help with an intellectual property dispute, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Stripe, and Twilio.