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Posted on 21 Nov 01:59 AM

The importance of the Intellectual Property of companies.

The Intellectual Property is divided into two branches: Industrial Property and Copyright. In the first one are included figures such as: patents, trademarks, industrial designs, utility models, commercial notices, industrial secrets, commercial names, among others; On the other hand, copyright protects literary and artistic creations, which are drawings, computer programs, music, painting, sculpture, photography, cinematographic works, and so on.

 

Now, in terms of Industrial Property, in most of the cases is required a title or registration issued by the Mexican Institute of Industrial Property in order to use the invention or the distinctive sign in question, such is the case of patents and trademarks; meanwhile, the Copyrights are granted to the works, just because they are fixed in a material support, without needing to obtain a title or registration; However, it’s always advisable to register the works, because this will have a document issued by a government authority (the National Copyright Institute) by which it’s presumed author and owner of the author's moral and patrimonial rights who appear in the inscriptions. 

 

Why is the protection of all the aforementioned figures important in the business world? There are several answers to this question. All these figures can be part of the capital of a company, since they are intangible assets; they can have a high market value and generate economic benefits, for example, there are brands that are valued in hundreds of millions of dollars; You can also grant licenses of patents or other inventions, brands and artistic works, for which you can obtain considerables incomes thanks to the collection of royalties

 

In addition, it is important to keep in mind that if you want to assert a claim of Intellectual Property whether in a criminal, civil or administrative process, the document issued by one of the two authorities, previously referred to is practically a requirement. Suppose a company has used a brand designed by them for years, however, they have not registered; if someone else registers it, they could prevent the former from using it and the company that used the brand first would have to initiate a procedure to nullify the registration, which in addition to the economic losses, could also mean a change in the image corporate, to mention just a few possible scenes. 

 

With this in mind, the protection of Intellectual Property brings legal security to companies and increases their capital, so that their registration, exploitation and management are of utmost importance for any individual or company involved in the commerce.

About the author

LENINN ESCUDERO IRRA

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