The benefits of protecting intellectual property rights include distinguishing your company, generating revenue through sales or licensing, offering unique products to customers, enhancing marketing and branding efforts, and using it as collateral for loans.

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Trademark

Trademarks identify and differentiate products or services through words, symbols, designs, or combinations. Trademarks can be registered for logos, pictures, colors, sounds, and more. The advantages of trademarks include helping consumers differentiate products, serving as collateral for financing, and being sold, licensed, or assigned.

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Patents

It is an award of a unique right to an invention. It could be given to a product or procedure that incorporates a breakthrough or gives an innovative technical solution to a problem. All technical information about an invention must be made public to petition for a patent. Patented inventions include the lamp, the computer, Bluetooth, Google PageRank, and so on.

Patents are divided into three categories: utility, design, and plant.

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Utility

The most common type of patent application is a utility patent. This patent covers a wide range of unique techniques, technologies, substance compositions, and manufacturing methods that benefit humanity as a whole. A utility patent consists of the following elements: title of the invention, abstract of the invention, detailed description of the invention, and claims, which define the scope of protection granted by the patent.