January 2024

Do you know the differences between patents, copyrights, and trademarks? These terms all refer to different types of intellectual property, which can help prevent your work from being stolen by anyone else. Their best way to differentiate them is to know what each one protects.  If you’re starting your own business, it’s important to protect your branding and your product for your endeavor to succeed. But which of these do you really need, and how do they differ from the other? Here’s what you need to know about patents, copyrights, and trademarks. What is a patent? A patent is a property right granted to creators of new inventions or processes. These can include simple devices like mouse traps, complex machinery for factories, or pharmaceutical drugs. An invention or solution can only be patented if it is new, innovative, and industrially useful.  totoagung2 daftar cantiktoto link alternatif amintoto toto slot game slot high flyer pragmatic play toto slot login togel slot idn toto slot thailand slot gacor 4d toto macau 4d togel slot situs toto macau togel online terpercaya slot qris terbaru toto slot bandar slot daftar totoagung toto slot toto togel toto slot login slot gacor idn slot slot gacor 4d idn slot online pay4d login While you can sell or use your invention without a patent, there is a risk that it will be copied by another party. Having your invention patented can prevent others from profiting off of it, either through making, using, or selling said invention. You can also grant other parties the rights to your invention, so long as both parties agree on mutual terms. Alternatively, you can sell your rights over the patented invention to another party. This relinquishes your rights on the creation and passes it onto the other party instead. Note that there are certain inventions and solutions that cannot be patented. These include aesthetic creations, abstract ideas, discoveries and other scientific theories, methods of treatment, animal breeds or plant varieties, computer programs, and any work against public morality. If you want your invention to be granted a patent, you’ll have to file an application to the Bureau of Patents of the Intellectual Property Office of the Philippines (IPOPHIL). Note that patent protection only lasts up to twenty (20) years from the date it was filed, and this cannot be renewed.  What is a copyright? Copyright protects an owner’s literary, scientific, or artistic creations. Books, songs (with or without words), illustrations, photographs, cinematographic works, and computer programs are some of the many works that copyright protection covers. If you’d like to have your work protected under copyright law, you will need to register it with the Intellectual Property Office (IPOPHIL). In the Philippines, copyright protection lasts for the entirety of the author’s lifespan, plus an additional fifty (50) years after the author’s death. Once such copyright protection expires, it enters the public domain, granting the public free access and rights to use it in any way they want. Derivative works, which are based on works that already exist, are also protected by copyright. Creators who want to create something based on an existing piece will not be violating the original piece’s copyright protection. Examples of derivative works include adaptations, translations, or other alterations of literary or artistic works. Collections of works, such as a short story collection, are also considered derivative works. While copyright protection covers a fast number of literary, scientific and artistic creations, there are some works that are unprotected. These include: In addition, no copyright shall subsist in any work of the Government of the Philippines. This is all according to the Intellectual Property Code. What is a trademark? A trademark identifies your brand and helps differentiate it from your competitors. A trademark can be a word, phrase, symbol, or a combination of the three. However, unorthodox trademarks exist, such as sounds, colors, and even smells. A unique trademark is a great way to help consumers remember your brand. Some well-known examples of trademarks include Nike’s check mark symbol or Pepsi’s blue and red circle. A registered trademark prevents your competitors from using not only your trademark, but also anything similar to it. This can help you set your brand apart from the crowd. It also prevents anyone from imitating your brand to ruin its reputation or get its consumer base.  Similar to copyrights, you can file a trademark application with the Intellectual Property Office of the Philippines. Trademark protection in the Philippines only lasts ten (10) years from the date of registration, but you can also renew it every ten (10) years. A trademark can thus theoretically last forever as long as it keeps getting renewed. Now that you know the differences between the different types of intellectual property, you can identify which ones apply to your brand so you can protect your work accordingly.

Having ownership of a corporation can open up many new possibilities for your business, especially compared to having a sole proprietorship or a partnership. You might not want to have personal liability on your business anymore, or perhaps you’d like to seek out investors by offering them stock. A corporation can offer you growth that the other two business entities can’t achieve. In the final part of this series, we’ll be discussing the final type of business entity that you can create. If you’re thinking of incorporating your business, here’s what you need to know. What is a corporation? A corporation is a business structure that is its own legal entity. This means that it exists independently of its owners and/or incorporators and has the same rights and obligations of an individual. Its ownership is divided into stock shares; individuals and other businesses who possess the stock of a corporation are its owners or stockholders. slot thailand slot resmi slot 4d idn togel toto slot pay4d slot data macau toto slot totoagung totoagung bandar toto togel slot slot gacor hari ini slot gampang menang pay4d idn toto pay4d heylink A corporation differs from a partnership because partnerships aren’t considered a legal entity. Additionally, partnerships only require two or more individuals to form, while corporations need a minimum of five and a maximum of fifteen. What are the advantages and disadvantages of a corporation? There are several advantages to incorporating your company. Firstly, any risk and liability you may encounter will only affect the corporation itself, and owners are not personally liable. It can also easily be passed down to different owners and live indefinitely, ensuring that it will continue to persist even after its owners are no longer around.  On the other hand, it does have its own disadvantages that you should consider if you want to incorporate your company. It is the most challenging business structure to set up in terms of expenses and paperwork. It also generally has a higher capital requirement and operation cost. Finally, corporations are subject to more compliance requirements and laws compared to partnerships and sole proprietorships. How do you establish a corporation? There are many similarities between the steps for establishing a corporation and a partnership, so expect to see many of the same steps that we’ve discussed in our previous article regarding partnership businesses. Here’s what you need to do to establish a corporation:  All partnerships and corporations must secure a certificate of registration with the Securities and Exchange Commission, or SEC, in order to operate. You can start off by going to their website to check the availability of the name of your business and fill out the application form. However, you can also do this at your nearest SEC office. To register your business in the SEC, you’ll have to prepare and notarize a few documents. These are your organization’s by-laws and articles of incorporation, the joint affidavit of at least two incorporators, and an affidavit of your organization’s treasurer. You’ll also need your name reservation/verification slip, your cover sheet, and your registration data sheet. Since you’ll be setting up your organization in your barangay, it’s important to get your business a barangay clearance. This ensures your community that your business adheres to the standards of their local Barangay. To complete your application, you’ll need your Certificate of Business Registration from the SEC, two (2) valid IDs, and a proof of address. This can be the contract of your lease if your location is rented, or your Certificate of Land Title if you own your own location. Similar to your Barangay Clearance, you’ll need a Business Permit or Mayor’s Permit so that you can run your business in your municipality. These permits are also proof that your business meets the standards of the Local Government Unit, or LGU. Note that these permits do have an expiration date, as they must be renewed once a year. Note that you’ll only be able to get these permits after you’ve secured the other requirements in the previous steps: a Certificate of Registration from SEC and a Barangay Clearance. You’ll also need two (2) valid IDs and a proof of address, similar to what you provided when applying for your Barangay Clearance. You’ll need to register with the Bureau of Internal Revenue or BIR to comply with tax obligations. Registering with the BIR will also grant you permission to issue official receipts, register books of accounts, and obtain a separate Tax Identification Number for your business.To complete your registration, you’ll need to accomplish BIR Form 1903 – Application for Registration (For Partnerships/Corporations). Besides your complete BIR Form, you’ll also need to submit your previously completed Certificate of Registration from the SEC, Barangay Clearance, and Business or Mayor’s Permit. You’ll also need proof of address and a valid ID. Then, register your account books and up-to-date invoices. After this, you’ll finally get your BIR Certificate of Registration. Finally, register with these government-mandated agencies as an employer. You will need to register your employees with the Philippine Health Insurance Corporation (Philhealth) and the Home Development Mutual Fund (HDMF) and remit their shares of contribution to the aforementioned agencies. Philhealth is responsible for providing your employees with health insurance, while the HDMF administers the Pag-IBIG Fund, which provides affordable financing for its members’ housing needs. You’ll also need to register both your business and your employees in the SSS so you can properly remit your employees’ monthly contributions.  This concludes our series about establishing your own business. Whether you plan on opening a sole proprietorship, partnership, or corporation, we hope that our guides have given you insight on the process you’ll have to go through.