Know about the different kinds of Intellectual Property: There are four types of Intellectual property: Copyright, Patent, Trademark or Service mark and Trade secret. A good knowledge of the difference between these four kinds of Intellectual property can lead to a more effective protecting of a company’s intellectual property. Hence a startup company must have a good knowledge of the different types of intellectual property and must be able to distinguish between each of them.A copyright mainly gives the owner an exclusive right to reproduce his work, prepare derivative works, distribute copies and display his work publicly. He can exclude others from making and importing his invention.A patent on the other hand provides the owner of an invention the right to exclude anyone else from making and selling his invention. A trademark identifies and distinguishes the source of goods and services while a trade secret gives an owner a competitive advantage over other companies in the industry.