What is a Patent?

Invention or Innovation? New products or ideas fall into one of the following categories: Invention: The creation of something completely new Tend to be rarer in nature, rely heavily of the creativity of the inventor Innovation A change to something that already exists Much more common Based on the what if question – What if I shrank it? Enlarged it? Made it lighter? Changed its shape? Reversed it? Added something? Subtracted something? Sold it at another place? Sold it in a different way? Changed its name? etc.

Why are Patents Needed? Once you’ve come up with an idea, invention, or innovation, there are a number of ways to protect it so potential competitors can’t take advantage of it This information is known as intellectual property It is the job of the Canadian Intellectual Property Office to protect this information (a government department)

What is a Patent? A patent is a grant made be the government that gives the creator of an invention the sole right to make, use, and sell the invention in Canada for a set period of time (20 years) Very complicated to get, so most businesses use patent lawyers which increase the cost (prepare to spend thousands) The patent only applies in Canada, if you want to protect your idea in other countries, you need to apply in those countries as well

What are Copyrights? Copyrights protect literacy works, musical works, artistic works, and software By law, all Canadians hold the copyright to any work they produce unless they were hired to create it (then the company owns the copyright) Copyrights last for the life of the author plus 50 years unless the heirs take steps to renew the copyright

What are Trademarks? Trademarks are words, symbols, or designs used to identify a product or service and distinguish it from the competition Trademarks last for 15 years and are renewable Slogans and jingles also fall in this category, as well as proprietary packaging

What are Industrial Designs? Industrial designs are anything made by hand, tool, or machine that has distinctive features that set it apart Once the design is registered, the designer has exclusive rights to the design for a 10 year period