4 Laws to Secure an Entrepreneurs Right

Shivani Sinha | 25-May-2016

Securing an entrepreneurs rights form the very important part of a business. There have been a number of measures for boosting the roles and responsibilities of the 2015-19 program for intensification and transformation as well as diversification of the economy. The initiative was taken by the honorable president of the republic of Uzbekistan Islam Karimov. The event was to discuss the execution of presidential decree –Measures to secure reliable protection of private property and private entrepreneurship. There are a number of programs discussed under the 2015-19 program for magnifying reforms and a new round of economic reforms and diversification of the economy including entrepreneurship protection and legal protection of private property laws.

4 laws have been enumerated hereby:

PATENTS:
These are inventions and entrepreneurs seek out patents for any new product or process to be used in industry. Just like James Dyson obtained a patent for his vacuum cleaner. A patent can be used to protect someone’s invention and to protect the copyrights so that competitors do not copy out the new invention. You must submit a patent specification to apply for any patent. A patent can last up to 20 years and is renewed every year.

DESIGNS:
Registering your design actually prevents copying by your competitors be it the physical appearance of your product or any component. It can include the shape, lines and design of the product. If a design is registered it lasts only for 25 years. Consider registering design fashions and how it will stop others from copying your design anyhow. It basically helps one to protect and keep your creativity much protected.

TRADEMARKS: A trademark is used to distinguish goods and services from other traders. If you want to register a trademark you must do the following

      1. It must be distinctive for a set of goods and services.

      2. It must not be the same as other goods and services.

It’s a kind of a marketing tool to distinguish and differentiate your brand from other competitors. It’s a kind of reassurance for customers. People recognize a brand and then accordingly select their choice of products according to the liking of their brands. For all Nike products, the youth has a special liking and prefer purchasing it. It is the brand value which matters. Trademarks are renewed every 10 years. Entrepreneurs register for their designs and logos to keep their company rights protected. Branding also delivers a great commercial importance to a company. For example, Stelios the founder of Easyjet has been using trademarks to protect upon company rights. All entrepreneurs have been using many different logos to recognize the brand.

COPYRIGHTS:  It’s an IP right relating to the expression of the idea. Anyone can write a story based on any superstar or hero about the same subject put down by the company. It protects any kind of recordings, photos, dramas, and other classic literary works. There is as such no registration process and covers web-based materials.

IP rights also cover trade secrets and rights of the performer. There can be more than one type of IP for a particular innovation. There are trademarks for harry potter toys and games. There are copyrights for books of harry potter. Thus, an inventor’s creation stands unique without any copy and duplicity by competitors. As such there is no legal worldwide protection. In Britain and UK Intellectual Property Office is which is responsible for IP Property rights.

Fagnum very well understands that these rights, in turn protect an entrepreneur’s rights and guarantee that any of his product ideas, designs, and shapes or colors specific to his product will never be copied or replaced as duplicate by any of his competitors.

The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of Fagnum.com. The writers are solely responsible for any claims arising out of the contents of this article.
About the Author
Shivani Sinha
A Master degree holder is a Content Developer and an SEO specialist. Having more than 6 years of experience into content development and marketing, she has contributed substantially in this arena. She is good at brainstorming and fast in writing crispy content, bold slogans, catchy captions and punchy one liners. Her stories are well researched and provide for an interesting read. She enjoys working in association with entrepreneurs while spearheading business launches providing marketing advice.