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www.canadianlawyermag.com 45 design and trademark protection, notes that many business owners understand the importance of their name or brand and will often try to register their trademarks them- selves. However, she says that registering and clearing a trademark is trickier than you might think, and SMEs are more likely to fare better if they are guided through the process by IP experts. "Yes, there is a cost to developing your IP, but in the end, it is likely worth it, and cheaper, to go this route." One example of understanding the value of trademark IP, she says, is real- izing its geographical nature. Registering a trademark in Canada does not guarantee protected rights outside of Canada or that you are not infringing on the rights of those TYPES OF INTELLECTUAL PROPERTY RIGHTS (IP) Source: Smart & Biggar Trademarks Protect brands, identifies businesses, goods and services and distinguishes them from those of competitors. Patents Protect inventions and how a product works. Industrial Designs Protect how a product looks. Copyright Protect original and creative works. Potentially perpetual 20 years from filing (usually) 15 years from filing Author's life +50 years