Intellectual property can be very significant for business owners.

Business owners can use intellectual property laws to protect their company's products and ideas from being used by competitors as well as help create a company's brand.

Business owners can benefit from using intellectual property laws but not everyone is familiar with this type of law. Many business owners get confused about laws regarding patents, trademarks and copyrights, otherwise known as intellectual property law. What is the difference between these three aspects of intellectual property law?

Business owners can benefit from understanding the differences between patents, trademarks and copyrights. A patent is used to protect an invention and gives the inventor or business the property rights to the item created. Many businesses apply for patent after creating a product like an iPad. Most patents protect the technology of the product as well as how it looks.

A trademark protects a company's slogan, logo or image. Having a trademark on your company's slogan or logo can help customers become more familiar with your business and what services you offer.

A copyright protects literature, art or software that is published or unpublished by a company. A copyright allows a company be the only one who can distribute or use the protected product.

Many companies benefit from applying for all three as it can help protect a company's product from other businesses trying to create or use the same product your company already owns. Intellectual property laws and knowing which type of protection to apply for can be complicated and challenging. Business owners should consult a business law attorney to discuss what steps to take to protect their business.

Source: FindLaw, "How Do Patents, Trademarks, Copyrights Differ?" Maryam K. Ansari, March 19, 2013