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Copyright Insurance And Business Intellectual Property

copyright insurance

Copyright Insurance And Business Intellectual Property

A copyright is the legal protection granted by the government to an author. In the case of works created by an employee during the course of his or her job, the copyright would belong to the employer.

Intellectual property refers to the many intangible assets of a business, such as patents, copyrights, trademarks and trade secrets. Intellectual property such as copyrights is often among an organization’s most valuable assets. While the intention of this overview is to provide a basic understanding of copyright insurance and business intellectual property, it should not be considered legal advice in anyway.

How Do Copyrights Work?
The Copyright Act of Canada sets types of creative works to be protected. A non-exhaustive list of material that may be protected under copyright includes:

  • Books, magazines, advertising copy and computer programs
  • Songs
  • Dramatic works, including any accompanying music
  • Paintings and designs
  • Motion pictures
  • Sound recordings (CD, cassette, digital audio tapes, MP3 files)
  • Architectural works

The Copyright Act of Canada provides immediate protection for creative works. As soon as works are written down or recorded, they are immediately copyright-protected. The copyright protection lasts until the author’s death and for an additional 50 years after the date of the author’s death.

What Is Copyright Protection?
Copyright ownership grants the author or owner of the work the sole and exclusive right to reproduce the work in any form. These rights can be limited by some doctrines, like fair dealing.

What Determines Copyright Infringement?
A copyright can be infringed by violating any of the rights granted: reproduction, modification, publication, performance and public display of the work.

Related matters: Copyright Infringement Risks Associated With Using Social Media

However, “fair dealing” is allowed without the author’s permission if an individual uses a copyrighted work or a portion of copyrighted work for personal use, or for limited instances of news reporting, criticism or review if certain requirements are met.

What If Someone Infringes Your Copyright?
A copyright under the Copyright Act of Canada the right to receive civil remedies, including court costs. Additionally, an infringer may be subject to criminal prosecution. If convicted of copyright infringement, an individual may face criminal penalties of twenty-five thousand dollars or imprisonment up to six months, or both.

Copyright Insurance For Your Business Intellectual Property
Intellectual property including patents, copyrights, trademarks and trade secrets may be integral parts of your business. It is vital that you understand the laws associated with these concepts to protect your intellectual property. You also need to ensure that your behaviour does not infringe on someone else’s intellectual property. This piece is not exhaustive and should be read as an overview. For more information, consult legal counsel.

It should also be noted that copyright insurance for your intellectual property is among ALIGNED’s many products and services. To learn more, contact an ALIGNED Insurance Advocate today.

Sources: IRMI.com   Canadian Intellectual Property Office   Government of Canada Justice Laws Website

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