Business Industrial property
Let’s take a look at the following scenario
“GIVE US YOUR IDEAS”
Some entrepreneurs are just looking for a small INNOVATION, enough to catch up with the competitor or to break away from it with the help of a small idea. They do not want to spend money to develop more and more innovations and the fate of their business without industrial property is always the same.
Most companies are doing well, working relatively well, and showing moderate interest in new products or services. Suddenly, something in their market has changed. A competitor launches a brand new product. The market is oriented towards it. Only then do management teams open their eyes and ears wide to innovation.
“GIVE US YOUR IDEAS” is becoming an often repetitive phrase because it is what they need.
We will explain the common between business and industrial property to help you make important future decisions.
INDUSTRIAL PROPERTY IS RELATED CLOSELY TO THE SUCCESSFUL BUSINESS
Where is your industrial property “hidden” in your business?
To get ideas for objects that we can protect as industrial property, let’s look at a specific example of a company that makes boxes of orange juice. There is only one question left for us…
WHAT CAN BE PROTECTED AS AN OBJECT OF INDUSTRIAL PROPERTY?
To be able to answer this question in detail, we need to look at the overall vision of the company, its presentation materials, its advertising campaigns, as well as the product itself, including the packaging of the box, not forgetting its contents. It will more understandable if we use some product like “Orange juice” for example.
TRADEMARK
The Trademark can protect:
– the company logo
– the company name
– the label of the box
– the name of the drink
– the packaging itself
– the company brand
PATENT or UTILITY MODEL
The Patent or Utility model can protect:
– the juice itself (as a composition)
– the technology by which the juice was produced or the apparatus used
– the composition of the cardboard used in the packaging
– the materials for the production of cardboard
– the method and equipment for the production of cardboard
– the uses of the product itself if there is a new application
INDUSTRIAL DESIGN
The Industrial design can protect:
– the shape of the box
– the color composition of the box
– the contours of the box
– the overall visual appearance of the box
What are the advantages of protecting industrial property?
The protection of industrial property brings well-known benefits to its owner. Let’s pay special attention to some of them:
∴ The protected objects give monopoly rights to their owners
∴ Owners take an advantage over the competition in a given area
∴ The profits increase while the competition catches up
∴ Incomes from concluding license agreements are realized
∴ Industrial property is a long-term intangible asset in the companies’ financial report
∴ Industrial property is included in the balance sheet of the company
What is the contribution of industrial property to business?
The possibility to grant a patent for an invention encourages investment of funds and efforts in research and development, the grant of a patent stimulates investment in the industrial application of an invention, and the official publication of the patent is a contribution to the main fund of documentary sources of technical information such as patent registers, which is also supported by the Patent Office of the Republic of Bulgaria. In other words, by disclosing the invention, its nature and manner of use will be brought to the attention of anyone interested. The use of the information presented through this disclosure eliminates the useless duplication of effort and increased costs associated with research to find solutions to similar technical problems. This acts as a stimulus and catalyst for the creation of other inventions and thus contributes to the development of science and technology.
Let’s propose the hypothesis that business does not pay attention to the protection of industrial property:
∴ Creators will be left without remuneration for their creative work
∴ The incentive of generating new ideas will decrease
∴ Innovations will disappear and business will slow down
∴ Technology will be morally obsolete
∴ Technological progress will stop
The use of the system for the protection of industrial property on the other hand will contribute to:
∴ Development of new technologies
∴ Encouraging the creators for the work done
∴ Development and implementation of innovations
∴ Creation of a mechanism for technology transfer
∴ Industrial planning
∴ Protection against unfair competition
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Drafting Applications
Preparation of applications for patents, utility models, trademarks, industrial designs, etc.
Keep in force the protection
Performing formal office actions to secure the protection.
