Intellectual Property Myths Busted

Intellectual property must be understood clearly in order to avoid unnecessary cost over an inventions or innovations. Most of the time businesses and inventors are spending large sums of money because of the common misunderstanding of what is intellectual property and how it works. Here are some of the common intellectual property mistakes most people believe.

Busted Myth 1: When employees or contractors created intellectual property for the business, the company owns the Intellectual property and the right for it.

Fact: Unless there is a written agreement between the company and the employee or contractor that states that the company owns the rights to any intellectual property created by the employee or contractor, the company has limited right or no rights at all in the intellectual property.

Busted Myth 2: It's official because it sounds like it is.

Fact: Many scammers use email to ask for a fee in order to protect trademark and domain name and it contains fake  invoices for protection services.  Before you pay anything, be sure to check if the information you got is true and correct.

Busted Myth 3: Patents protect intellectual property worldwide.

Fact: Patent laws in every country differ. A patent granted in the U.S is only protected in the US. You have to file a patent in every country you wish to operate your product, you must follow specific rules of each country.