Good afternoon everyone.

Our group will also discuss the INTELLECTUAL PROPERTY

RIGHTS which focuses more on its benefits and how it will help expand your business.

So as mention by the other group, property rights are the rights given to persons over
the creations of their minds, and which gives the creator an exclusive right over the use
of his/her creation for a certain period. 

(It has only limited years as written in law such as design patent which is only for 14
years.)

So what is Intellectual Property?

It is a category of property that includes intangible creations and it has many well-known
types which are copyrights, patents, trademarks, and trade secrets.

So PATENTS gives its owner the legal right to exclude others from making, using, or
selling an invention for a limited period of years in exchange for publishing an enabling
public disclosure of the invention.

Second is INDUSTRIAL DESIGNS which is an IP that constitutes the ornamental or

aesthetic aspect of an article.

The third is TRADEMARKS that is consist of a recognizable sign, design, or expression

which identifies products or services of a particular source from those of others, and
also it is used to identify services which are usually called service marks.

Fourth is COPYRIGHT which gives its owner the exclusive right to make copies of
creative work, usually for a limited time.

And lastly, TRADE SECRETS, which are IP rights on confidential information which

may be sold or licensed. 
Understanding the benefits of Intellectual Property Rights

First is Defending your competitive space

To defend your innovative product/process or improved product/process, it should be

protected by a patent right that can give your business a competitive advantage. The
protection it gives allows you to fend off competition, assume a lead, and secure a
market position.

To understand how to protect trade secrets is also key to defending your competitive
space. Specific product details, technological know-how, and strategic business
information are often key to the success of a business, allowing it to maintain its edge
over the competition. Things like theft or accidental disclosure of trade secrets can
deprive a business of these important advantages.

Second is Visibility in crowded markets

To have Trademarks allow the customers to distinguish your products/services from

those of your competitors and serve as a guarantee of consistent quality. Great care
should be taken in choosing and designing your trademark, protecting it, using it in
advertising, and policing its misleading/improper use by others.

Moreover, the aesthetic aspect of your product is protected by an industrial

design right that is another means by the distinguishment yourself from the competition
and gains market share. A visually attractive design alone can attract a demanding and
diversified clientele and could constitute your product’s single most important
distinguishing factor.

Next is identifying, protecting, and managing your Intellectual Property Rights

Keep in mind that a single product can be protected by various forms of IP rights.
Together, these IP rights protect your innovation and nurture your brand. They are an
important tool for maintaining and strengthening your competitive edge and expanding
your market share.

In Auditing your IP assets it is an important first step in managing IP assets is

to conduct an IP audit to understand what potential IP exists in the company which is
the Patents, Trademarks, Industrial Designs, Copyright, Trade secrets.
Lastly is Expanding your business with IP rights

It is important to understand the economic value of your IP assets by carrying out an IP

valuation. Having an idea of how much your assets may be worth will be helpful for
various transactions including licensing, sale, donation of IP rights, or entering into joint
ventures and other collaborative arrangements.

To SECURE FINANCING, there are various ways to monetize and leverage IP assets
to obtain financing. Including information about IP rights in a business plan can help you
obtain the funds needed to launch or expand.

In ENTERING FOREIGN MARKETS, the IP rights are only available in the

country/region in which they are granted. Before expanding your business abroad,
obtain the necessary rights to ensure that you maintain your competitive advantage in
foreign markets.

Lastly, SETTLING DISPUTES There are IP disputes that unfortunately can arise
despite the best of efforts, and may result in legal proceedings, demands to cease using
an IP asset, and/or compensation payments.

That’s all and thank you.