![]() Develop an intellectual property strategy Learn about a new Ontario agency that provides intellectual property supports and services to help businesses and researchers grow their innovation and market opportunities. Your business can actively protect its trade secrets by using confidentiality agreements, lock and key, encryption, etc. Once the secret is out, its value for your business is lost. Trade secrets cannot be registered in Canada, but can potentially last forever provided it remains a secret. Examples include recipes, formulas, patterns, programs, sales methods, client lists, and strategies. It can be described as a secret formula or process, has commercial value for your business, gives your business an advantage over competitors who do not know it, and may be known only to a few people in your business. Trade secretsĪ trade secret is a form of IP that derives its value from secrecy – it loses its value when revealed, independently created, or reverse-engineered. The general term of copyright protection in Canada is life of the author plus 50 years. An original work is automatically protected by copyright the moment you create it, however, registering your copyright provides greater certainty to enforce your copyright in Canada. It provides a time-limited, exclusive right to produce, reproduce, perform or publish the work or any substantial part of it. CopyrightĬopyright applies to a wide range of original works such as literary, dramatic, musical or artistic works, performances and sound recordings. Registering your trademark in Canada gives you the exclusive right, renewable every 10 years, to use the trademark and to protect your goods and services against misuse by others in the Canadian marketplace. Over time a trademark also comes to stand for your company’s reputation and goodwill. TrademarkĪ trademark is a unique combination of letters, words, sounds or designs as well as other non-traditional signs such as scent, taste and texture, used to distinguish your company’s goods or services from others in the marketplace. Registering your industrial design provides a time-limited, legally protected, exclusive right to prevent others from making or selling articles that copy your registered design in Canada. Industrial design refers to the original visual features of a product, such as shape, configuration, pattern and/or ornament. Patents provide a time-limited, legally protected, exclusive right to prevent others from making, using and selling your invention in Canada. There are several types of intellectual property rights that may apply to your business and what you create or invent such as footnote 5 :Ī patent applies to any new and useful invention or any new and useful improvement to an existing invention. Types of intellectual property protection Read the government’s Intellectual Property Action Plan in response to the recommendations of the Expert Panel on Intellectual Property. If you want to use your creation to build a business or generate income, it’s important to know how to protect and manage your intellectual property assets. increase the value of your business in the eyes of potential buyers and investors.stop others from making, using, and selling your invention.protect your trade secrets from being disclosed.profit from selling or licensing your IP assets.Managing your IP can help you footnote 4 : words, sounds or designs used to distinguish your goods or services. ![]() literary, artistic, dramatic and musical creations.the original visual features of a product.inventions, for example products and processes. ![]() Intellectual property ( IP) refers to creations of the mind. What is intellectual property and why it matters More likely to seek financing footnote 3
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