Value Of I.P
A lot of a companies value is based on their intellectual property. For example if an artist is signed to a record label and then ends up leaving, the record label still owns the rights to their music and possibly even the artists name all of which depends on the specifics negotiated in the record contract. Since the label still owns the music they will always be able to make money off it. Skee-lo is one of the few artists who was able to leave his label while retaining the rights to his music and name after beating them in court.
Types Of Intellectual Property
- trademarks: A symbol, word or words representing a company or product (goods) such as McDonald’s and Big Mac which both are trademarked.
- servicemarks: A symbol, word or words representing a service such as your rap name since you are providing a service when you perform on stage.
- copyrights: Exclusive right to print, publish, record, etc.
- trade secrets: Technique used in manufacturing a product such as the secret recipe to Coca Cola.
- patents: Right to exclude others from making your product.
utility patents: Protects an articles function or mechanics and subject matter such as chemicals for example cologne and perfume.
design patents: Protects an article’s design for example its unique external appearance.