The Governor of Kentucky has officially proclaimed that October 2024 is Intellectual Property Month! This was achieved through efforts of the Kentucky Intellectual Property Association (KYIPA), in partnership with KY Innovation, Kentucky Science and Technology Corporation (KSTC), the Kentucky Bar Association (KBA) Intellectual Property (IP) Law Section, and many other organizations in the Commonwealth.
What is Intellectual Property and why is it important?
The founders of the United States recognized the crucial role that intellectual property would play in fostering innovation and cultural development in the new nation. IP protection was explicitly provided for in the Constitution.
- In today's marketplace, 90% of business assets are IP assets (compared to 17% in 1975, and 68% in 1995). This makes IP very important for the success of every business and the people who work for and interact with these businesses.
- Intellectual Property is a legally-recognized
right that protect creations of the mind.
- IP is intangible, as contrasted to "real property" (like a house and land) and "personal property" (like a car or a phone), which are tangible.
- Different types of creations of the mind rely on different mechanisms of IP protection.
- According to a 2023 U.S. IP Awareness & Attitudes survey, 70% of Americans are unable to distinguish between mechanisms for protecting IP.
What are the three primary Mechanisms for Protecting IP?
1. Copyright – an IP right for an original work of intellectual and artistic expression, such as a book, photo, movie, music, software, painting, drawing, or sculpture.
- Example: U.S. Copyright Registration No.
TX0009229007 for a text entitled Demon Copperhead to
Barbara Kingsolver, registered in 2023.
- Example: U.S. Copyright Registration No.
PA0000045692 for a motion picture entitled The Empire Strikes
Back to Lucasfilm, Ltd., registered in 1979.
2. Trademark – an IP right for a device that identifies the source of goods or services in the marketplace, such as a word, phrase, symbol, or design.
- Example: U.S. Trademark Registration No.
1026871 for LEGO design, registered in 1974 (remains issued and
active).
- Example: U.S. Trademark Registration No.
1284386 for NIKE AIR design, registered in 1984 (remains issued and
active).
3. Patent – an intellectual property right for an invention, such as methods, machines, manufactured goods, or compositions of matter (chemical, biological).
- Example: U.S. Patent No. 644,077 for
Acetylsalicylic acid (Aspirin), granted in 1900 (expired in
1917).
- Example: U.S. Patent No. 3,005,282 for Toy
building brick, granted in 1961 to G. Kirk Christiansen, founder
the company now known as the LEGO Group (expired 1978).
- Example: Nike is another example of a company
with tens of thousands of patents for various footwear
features.
How can I start learning more about Intellectual Property?
- Check out the Kentucky Intellectual Property Alliance (KYIPA) website.
- Join KYIPA and be among the first to find out about free IP resources and programming available to the community. Membership is free.
- Check out the United States Intellectual Property Alliance (USIPA) website.
- Check out the resources available from the United States Patent and Trademark Office (USPTO). On the home page, look for "New to Intellectual Property?" and select the links of interest.
- Check out the resources available from the United States Copyright Office. On the home page, look for "What is Copyright?" and click the "Learn More" link.
- Search for an Intellectual Property Attorney or Registered Patent Practitioner:
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
