A patent protects inventions and ideas. Patent protection can be obtained for things like mechanical devices, such as a bicycle, electric devices, computer programs and Internet business models. Patents last for 20 years from the time of the filing of the patent application. If your business develops products for sale, patent protection may be something to consider. Trademarks protect a term or logo under which a company markets its products or services.
Trademarks exist under both federal and state law.
Federal trademarks afford the owner nationwide protection and are typically obtained when a company is doing business in more than one state or over the Internet. Federal trademark protection lasts as long as the owner of the trademark continues to use the mark and pays the renewal fees. Trademarks also exist at the state level. In New Mexico, an entity can apply for trademark protection. A trademark registered with the State of New Mexico protects the owner's interest in the mark within the state, but not outside of it.