Hispanic Enterprise - October/November 2007 - (Page 58)

FINANCE & INVESTING PATENT PENDING? With Julie Stav I HAVE A PRODUCT I WOULD LIKE TO MANUFACTURE, BUT QUITE FRANKLY, I DO NOT KNOW WHERE TO BEGIN. WHAT IS THE DIFFERENCE BETWEEN A TRADEMARK, A COPYRIGHT AND A PATENT—AND WHICH ONE DO I NEED? —HUGO DEAR JULIE, D ear Hugo, First of all, congratulations for your initiative in wanting to take action on your idea. Let me help you understand the difference between the protection choices offered by the U.S. government. As you read about them, it should become obvious to you what type of protection you need in order to, ﬁrst, make sure that your idea has not been ﬁled before, and second, ﬁnd out how you can register it so no one can steal it from you in the future. COPYRIGHT A copyright protects published or unpublished literary, dramatic, musical and artistic works such as poetry, novels, movies, songs, computer software and architecture. It reserves the right reproduce and distribute the work to the holder of the copyright. Although a registration is not necessary to protect an original work, it is recommended. For more information on copyright, you can visit its ofﬁcial site at www.copyright.gov/circs/circ1.html#cr. From your question, I would suggest that you get in touch with the Department of Commerce’s agency of the U.S. Patent and Trademark Ofﬁce to begin your research. You will ﬁnd helpful information on patents by visiting their ofﬁcial website and conducting a rudimentary patent search at www.uspto.gov. More than 95 percent of all patents never make money for the inventor, so before you invest too much time and money into patenting your idea, make sure your product can be feasibly manufactured and distributed. Once you have protected yourself with a patent, you may wish to follow the steps to market on your own or you may opt to hire a company that will do most of the work for you. Be wary of companies that advertise their services on the media or that promise to make you an instant millionaire. Take your time in researching any company that you hire to help you develop your idea. Good luck! TRADEMARKS Trademarks identify the product by establishing a brand name. iPod, for example, is a trademark of Apple, and Band-Aid is a trademark of Johnson & Johnson. A trademark is meant to protect the public by making the name exclusive to one product or service. For example, chances are you couldn’t come up with a similar product to iPod and name it iPodd—at least not without a likely legal battle from Apple. You are not required to register a trademark, and you may even use the designation letters TM after the brand name without a registration. However, if you ﬁle a formal registration with the U.S. Patent and Trademark Ofﬁce, you receive additional beneﬁts as the owner of the trademark, as well as the right to use the ® symbol, legal proof of registration. You can apply for a trademark online by visiting www.uspto.gov/teas/index.html. 58 PATENT This is the right granted to you, the inventor, to keep others from making, using or selling your invention without your permission. This right is yours for a limited period of time, generally 20 years from the date on which the application for the patent was ﬁled in the United States. There are three types of patents: •A Utility Patent: Granted to someone who invents or discovers any new process, machine or a new and useful improvement of an existing product. • A Design Patent: Applies to someone who invents a new, original and ornamental design. • A Plant Patent: As the name implies, this type of patent is granted to anyone who invents or discovers a distinct and new variety of plant. Look for my DAILY RADIO PROGRAM Monday through Friday on your local UNIVISION RADIO STATION. HISPANIC ENTERPRISE October/November 2007 http://www.uspto.gov http://www.copyright.gov/circs/circ1.html#cr http://www.uspto.gov/teas/index.html

Table of Contents Feed for the Digital Edition of Hispanic Enterprise - October/November 2007

Hispanic Enterprise - October/November 2007 Contents BIZBUZZ: Business Briefs Trendsetters BIZTECH: Personally Digital BizLife - Travel: The Mobile Meeting Motoring: Is What You Drive, Who You Are? Q&A - Fact Tank for the Hispanic Population Hispanic Commerce Cover Story: Tiles with Style Success & Motivation: Grammy Whammy Finance: Talking Code Event: Masterminds NCLR Report - Improving your Triple Bottom Line Politics & Government: Keep on Truckin' Managing: Avoiding an Identity Crisis Franchising: Beyond the Brand Finance & Investing - Talking Money Movers & Shakers Regional Report - Louisiana, Louisiana Chamber Focus - On the Island of Enchantment

Hispanic Enterprise - October/November 2007

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