Intellectual property (or IP) refers to creative work which can be treated as an asset or physical property. Intellectual property rights fall principally into four main areas; copyright, trademarks, design rights and patents.
Design rights ;
A trademark can be a name, word, slogan, design, symbol or other unique device that identifies a product or organisation.
Trademarks are registered at a national or territory level with an appointed government body and may take anywhere between 6 and 18 months to be processed.
Registering in countries such as the US, the UK, Japan, etc will protect your mark in that country.
Patents apply to industrial processes and inventions, and protect against the unauthorised implementation of the invention.
Patents are grants made by national governments that give the creator of an invention an exclusive right to use, sell or manufacture the invention. Like trademarks, patents are registered at a national or territory level with an appointed government body. Patents typically take 2 to 3 years to be granted.
This being the position, one advantage of patent protection is that a patent can protect a product irrespective of the appearance of the product, thus giving broader protection than a design registration.
But, there are strict criteria which must be met before a patent is granted, including a search and examination process. Also, certain inventions are excluded from being patented. So, while a patent gives the broadest protection, getting a patent can be a relatively long, involved, uncertain and expensive process.
Therefore it is not as easy as what you have understood the underlying laws in this regard.