Q: How to protect a Business Idea

In this era of widespread Information and social media, protecting business ideas, trade secrets,
designs, and innovations become more important to be competitive in the market and to win
major market share.

Businesses can protect their business ideas, manufacturing processes, Innovations, logos,
Designs, etc. through various ways. There are different legal authorities backed by Govt.
legislation to protect business ideas. Businesses have to meet the standards of those legal
authorities, show their trade secrets to the legal board, pay the business protection fee, and
protect ideas from intellectual theft. Businesses can get a license which becomes their intellectual
property providing them the right to manufacture or process the business innovation for a limited
period. After the stated period, the business idea becomes the public asset and anyone can copy
the business idea and enter into the specific product or service market.

There are following 3 basic ways to protect business ideas:

1. Patent.
2. Copyright.
3. Trademark.

Patent:

A patent is an Intellectual property that gives its owner the legal right to exclude others from
making, using, or selling an invention for a limited time. A patent is most commonly in in
Pharmaceutical Industry in which the company patents the right to manufacture an innovative
medicine formula for a specific period to restrain others from manufacturing or copying their
formula for the specific medicine. Businesses can patent their processes, designs, and inventions
through patent laws and details which are as follows:

 Businesses can protect their Trade Secrets, recipes, or manufacturing processes through
patents. For example, the example of a Trade secret patent is given from Vis Lab’s self-
driving car sensor and camera patent. Vis Lab was the first company to develop a camera
and automated sensor system in cars for self-driving purposes and patented its rights in
2013 in Italy, Vis Lab navigated two-way streets, crosswalks, streetlights, roundabouts,
 and obstacles in their prototype product. An example of a patent of manufacturing
processes is Hershey's chocolate manufacturing process which involves a unique blend of
Ingredients to create perfect flavor and texture.
 Businesses can patent their designs to protect them legally. Examples of design patents
are the patents of Apple and Harley Davidson bikes. Apple patents its mobile designs and
restrains others from copying their sober and unique iPhone designs, similarly Harley
Davidson patents its unique motorbike designs and gives a dashing look to the viewers.
Nike also used patents to protect their shoe designs.
 Businesses can also protect their innovations through patents. For example, James Powell
and Gordon Danby of the Brookhaven National Laboratory received the first patent for a
maglev train. The maglev train idea was very innovative and used electromagnetic waves
to pull trains and create contactless connections with the railroad. Due to this innovation,
the idea of a bullet train was established that boosts the speed of trains due to less friction
and no contact with the railroad.

Copyright:

Copyright is the legal protection right that protects the invention and provides the right to its
inventor to use and distribute their works. Copyright protects literary, dramatic, musical, artistic,
software, databases, films, and related intangible works. Copyright protects the expression of
ideas and not the idea itself, while patent protects the original idea. This means that other people
cannot copy the way you are employed but they can implement other ways using the same idea
to avoid copyright claims. Copyright protects the ideas for the whole life of the inventor + an
additional 70 years.

For businesses, copyright protection can be crucial for protecting their intellectual property. For
example, a software company may copyright its code to prevent others from copying and
distributing it without permission. A publishing company may copyright its books to ensure that
only authorized copies are made and sold.

Copyright infringement occurs when someone uses a copyrighted work without permission,
violating the exclusive rights of the copyright holder. Businesses can take legal action against
infringers to protect their copyrighted works.
Trademark:

A trademark is a specific design, logo, sign, or expression that distinguishes products or services
from a specific source or manufacturer from others. A trademark is used to protect the designs,
logos, signs, or specific words that are unique and solely the work of the specific identifier or
producer to protect them. Trademarks can take many forms, including words, logos, slogans,
colors, sounds, and even smells. The primary purpose of a trademark is to identify and
distinguish the goods or services of one seller from those of others.

Businesses use trademarks to build brand recognition and loyalty among consumers. A strong
trademark can convey the quality and reputation of a product or service, making it easier for
consumers to make purchasing decisions. For example, the Nike "swoosh" logo is a trademark
that is instantly recognizable and associated with the company's athletic apparel and equipment.

Trademark protection grants exclusive rights to the owner to use the mark in connection with the
goods or services for which it is registered. This means that other businesses cannot use a similar
mark that is likely to confuse consumers. Trademark protection also allows the owner to take
legal action against infringers who use the mark without permission.