Personal Property
6 min read
Heirs vs. Beneficiaries: Who Inherits a Loved One's Estate?
The distinction between an heir and a beneficiary is particularly important because they may receive estate assets in different ways.
Personal Property
Is Your Intellectual Property Safe?
Get the legal advice you need without the hourly legal fees
Ask yourself, what would happen to your business if a competitor began using your company’s name or began selling a product identical to one that you developed? Could your business survive?
The best way to protect your innovations and creations is through effective enforcement of intellectual property (IP) law. Many small business owners falsely believe IP law is only for large corporations and is not worth their time and money, but no small business can afford to ignore protecting their intellectual property.
Copyright law
Copyright laws protect the intellectual property of artists, including written text, photographs, paintings, and designs. Copyright law is particularly important to professional photographers, musicians, writers, and other visual artists. Copyright is established when a work is created.
For example, when a photographer takes a picture they immediately hold the copyright of that image, unless the image was taken on behalf of an employer as part of the photographer’s job duties or the photograph was commissioned for another use. In those cases, the copyright is granted to the employer or the individual who commissioned the work, respectively.
The internet has increased greatly the number of copyright violations. Images, videos, and music are often shared with no regard for their copyright.
Trademark or Service Mark
A trademark includes the design, name, words, and phrases used to identify your business and products. A service mark identifies the provider of services, rather than hard goods. Your trademark or service mark constitutes the identity of your business. You are not required to register a trade or service mark, but failing to do so could leave you vulnerable. The United States Patent and Trademark Office (USPTO) website includes resources on Trademark registration for small business owners.
Patent protection
Because inventors and innovators frequently lack the financial resources to produce or distribute their own inventions, patent law exists to protect those innovations or inventions from reproduction without permission or compensation. Once a patent is registered it becomes a public record and the duration of a patent is limited.
There are several types of patents, including design, plant, and utility patents. The filing process and wait times for patent registration may take a great deal of time. Speak with your LegalShield provider law firm before you begin the process. It is important to make sure you are on the correct path before proceeding. You may also review the USPTO website for additional information.
There's a LegalShield plan that's right for your small business
LegalShield offers plans that cover your small business legal needs and fits in your budget. Our scalable plans fit companies with 10, 50, or 100 employees or more. We offer easy access to knowledgeable attorneys who practice in your home state. This means you have a lawyer on call who knows local and regional laws and regulations and how they may affect your company. Learn how getting a Small Business Plan can help you succeed as an entrepreneur.
Get the Answers You Need, When You Need Them
Related articles
Personal Property
6 min read
What Is a Postnuptial Agreement, and How Does It Work?
For many spouses, a postnup is simply about preventing confusion and making shared decisions before money questions get harder to discuss.
Personal Property
6 min read
What Are House Deeds, and How Do I Get Mine?
You might need your deed when you’re selling your home, adding a spouse to the deed, checking ownership, or trying to settle estate questions.
Personal Property
5 min read
Per Stirpes vs. Per Capita: Choosing how your estate gets distributed
The difference between "per stirpes" and "per capita" can be confusing. They sound alike and both have to do with who inherits your assets if a named beneficiary dies. We'll explain the difference.
Personal Property
6 min read
How to Sign as a Power of Attorney Agent to Represent a Loved One
Signing as a POA Agent is more than just jotting down your signature. Banks, title companies, healthcare providers, and similar entities might reject documents if the signature doesn’t clearly show that you’re signing for the other person.
Personal Property
5 min read
How to Avoid Probate With Thoughtful Estate Planning
Probate can take time, add costs, and create extra work for loved ones during an already difficult time. That’s why people often want to know how to avoid it.
