How To Protect Intellectual Property Of Technology Companies

Understanding how to protect Intellectual property of technology companies is becoming a very vital subject of global relevance. With Nigeria as our focus, this article seeks to explore the legal provisions available to protect intellectual property of technology companies.

Let’s dive into the topic properly.

Protecting Intellectual Property Of Technology Companies In Nigeria

The growing expansion of the technology market in Nigeria and the world over has spurred the need for a holistic regulatory framework for the protection and incentivization of intellectual works.

The law has pro-actively made contributory guidelines for owners of intellectual works to maximally protect their works from infringement of any kind, and to maximize the full fiscal proceeds of their intellectual projects.

The principal instruments governing the protection of intellectual property are the Copyright Act, the Patents and Designs Act, and the Trademarks Act. It is imperative for technology companies to adequately acquaint themselves with these legal provisions for the protection of their intellectual assets which could manifest in the form of trade secrets, inventions, patents, and trademarks.

Importantly, these instruments have provided varying guidelines for the protection of differing intellectual property works.

Instruments and Guidelines To Protect Intellectual Property of Technology Companies

Technology companies can leverage the protective provisions of the Copyright Act for their literary and artistic works such as electronic databases, media productions, applications, and other developments.

For a technology company to have its works copyrighted, it must satisfy the twin requirements of fixation and originality. In other words, the works must be original, uniquely creative, and must have been expressed in a tangible medium of expression to be eligible for protection.

With respect to patents, as prescribed by the Designs and Patents Act, for a work to be patentable, it must be novel and capable of innovative industrial applications. Applications must be made to the Patents and Designs Registry, and applications are assessed by the Patents and Designs Registrar. Patents are usually granted for a period of twenty years subject to renewals.

During these periods, technology companies with patented works have the exclusive right to use, license, and assign their works. It is also subject to their exclusive use.

Also, registered trademarks are fully protectable under the law.

Nigerian Trade Marks Registry carries out trademark registration. The lifespan of protection generally lasts for seven years and is renewable after fourteen years.

Conclusively, in an age replete with infringements of all kinds, it is imperatively exigent for tech companies to be sufficiently informed of the guidelines provided for the protection of their intellectual works.

This will subsequently help to obtain the financial proceeds of their intellectual investments. Ultimately, it assist to deploy remedial legal action in events of infringements.

References

1 Bisola Scott, “Intellectual Property Protection For Software Rights In Nigeria “available at,https://www.mondaq.com/nigeria/trademark/830390/intellectual-property-protection-for-software-rights-in-nigeria accessed on December 16, 2022

2 Oluwatobi Awe, “Legal Framework For Intellectual Property Law and Tech Law in Nigeria’ available at, https://dnllegalandstyle.com/2022/legal-framework-for-intellectual-property-law-and-tech-law-in-nigeria/ accessed on December 16, 2022

3 Nosa John Garrick, “Intellectual Property In Nigeria: A Summary of Protectable Rights In Nigeria” available at, https://oal.law/intellectual-property-in-nigeria-a-summary-of-protectable-rights-in-nigeria/ accessed on December 16, 2022

4 Inioluwa Olaposi, “Trademarks In Nigeria (Protection, Registration, etc), available at, https://lawglobalhub.com/trademarks-in-nigeria accessed on December 16, 2022

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