A
- Application (Trademark, Patent, Copyright) – A formal request to the government for legal protection of intellectual property.
- Arbitration – A way to settle disputes outside of court where a neutral third party makes a decision.
- Articles of Incorporation – A legal document filed to create a corporation.
- Assets – Anything a business owns that has value, such as cash, equipment, or property.
- Assignment – The transfer of ownership rights of a trademark, patent, or copyright from one person or company to another.
- Author – The person who creates an original work, such as a book, song, or painting, which is protected by copyright.
B
- Bankruptcy – A legal process for businesses or individuals that cannot pay their debts.
- Breach of Contract – When one party fails to follow the terms of a legal agreement.
- Brand Name – The name a company uses to identify its products or services, which can be protected by a trademark.
- Broadest Reasonable Interpretation (BRI) – A method used by the U.S. Patent and Trademark Office (USPTO) to interpret patent claims during the application process.
- Business Entity – A legal structure for conducting business, such as an LLC, partnership, or corporation.
C
- Capital – Money or other assets used to start or grow a business.
- Cease and Desist Letter – A legal notice demanding that someone stop using a trademark, copyright, or patent without permission.
- Claim (Patent) – A part of a patent application that defines what is protected.
- Contract – A legally binding agreement between two or more parties.
- Copyright – A legal right that protects original works of authorship, like books, movies, music, and art.
- Corporate Veil – The legal separation between a business and its owners, protecting personal assets from business debts.
- Counterfeit – A fake product that illegally uses a trademark or copyright to appear real.
D
- Damages – Money awarded in a lawsuit to compensate for harm or loss.
- Derivative Work – A new work based on an existing copyrighted work, like a movie based on a book.
- Design Patent – A type of patent that protects the unique appearance of a product but not how it works.
- Dissolution – The legal process of closing a business.
- Due Diligence – The research and investigation done before making a major business decision, like buying a company.
E
- Employment Agreement – A contract that outlines the terms of employment between a company and an employee.
- Equity – Ownership interest in a company, often in the form of shares or stock.
- Examination (Trademark, Patent) – The process where the USPTO reviews an application to see if it meets legal requirements.
- Exclusive Rights – The legal ability to be the only person or company to use a certain product, idea, or brand.
F
- Fair Use – A legal rule allowing limited use of copyrighted material without permission, such as for news, education, or parody.
- Fanciful Trademark – A completely made-up word used as a brand name, such as “Kodak” or “Xerox,” which has strong legal protection.
- Fiduciary Duty – A legal responsibility to act in someone else’s best interest, such as a business partner or corporate officer.
- First to File – The rule that the first person to apply for a patent gets the rights to the invention.
- Franchise – A business model where an individual or company pays to use the branding and operations of an established company.
G
- Generic Term – A common name for a product or service that cannot be trademarked, like “shoes” or “coffee.”
- Geographical Indication – A name that shows a product comes from a specific place, like “Champagne” for sparkling wine from France.
- Goodwill – The value of a business beyond its physical assets, including reputation and customer loyalty.
- Guarantor – A person or company that agrees to be responsible for someone else’s debt if they fail to pay.
H
- Holding Company – A business that owns trademarks, patents, or copyrights but does not produce goods or services.
- Hostile Takeover – When one company tries to buy another company without the approval of its leadership.
I
- Incorporation – The process of forming a corporation as a separate legal entity from its owners.
- Indemnity – An agreement where one party promises to protect another from legal claims or financial loss.
- Infringement – Using a trademark, copyright, or patent without permission, which can lead to legal action.
- Intellectual Property (IP) – Creations of the mind, such as inventions, brand names, or artistic works, that are legally protected.
- International Trademark Registration – A process that allows businesses to register their trademarks in multiple countries through the Madrid System.
J
- Joint Venture – A business partnership where two or more parties agree to work together on a specific project.
- Jurisdiction – The authority of a court or legal system to make decisions over a business or dispute.
L
- Liability – Legal responsibility for debts, losses, or damages.
- License – A legal agreement allowing someone to use a trademark, copyright, or patent under certain conditions.
- Likelihood of Confusion – A legal test to determine if one trademark is too similar to another, which could confuse customers.
- Limited Liability Company (LLC) – A type of business structure that protects owners from personal responsibility for business debts.
- Litigation – The process of taking legal action through the court system.
- Logo – A symbol or design used to represent a business, which can be protected as a trademark.
M
- Madrid Protocol – An international system that allows trademarks to be registered in multiple countries with one application.
- Mergers and Acquisitions (M&A) – When two companies combine into one or when one company buys another.
- Minority Shareholder – Someone who owns less than 50% of a company’s shares and does not have control over business decisions.
- Moral Rights – Special rights that allow authors to control how their work is used, even if they no longer own the copyright.
N
- Non-Compete Agreement – A contract that prevents someone from working for a competitor or starting a competing business.
- Non-Disclosure Agreement (NDA) – A contract that prevents someone from sharing confidential information.
O
- Operating Agreement – A document that outlines how an LLC is run, including ownership and management rules.
- Ornamental Design – The look or shape of a product, which can be protected by a design patent.
- Outsourcing – Hiring another company to handle certain business functions instead of doing them in-house.
P
- Patent – A legal right that gives an inventor exclusive control over an invention for a certain period (usually 20 years).
- Plaintiff – A person or business that files a lawsuit.
Q
- Quorum – The minimum number of people required at a meeting to make decisions legally binding.
R
- Registered Trademark – A trademark that has been officially approved and recorded by the USPTO.
S
- S Corporation (S-Corp) – A special type of corporation that avoids double taxation by passing income directly to shareholders.
T
- Trademark (™ or ®) – A word, phrase, symbol, or design that identifies and distinguishes a brand.
U
- Use in Commerce – A requirement for trademark protection, meaning the brand name or logo must be actively used in business.
V
- Venture Capital – Money invested in a new or growing business by investors who hope to make a profit.
W
- Whistleblower – Someone who reports illegal or unethical business activities.
Y
- Yellow Dog Contract – An old term for an employment contract that unfairly restricts workers’ rights, often now illegal.