What is Intellectual Property?
Intellectual property (IP) is any creative work whose rights are owned by a company. IP can come in many forms including a design, invention, image, process, trade secrets or even a manuscript. These rights are established through legal means such as a trademark, copyright or patent. Your IP is extremely valuable and many times it is even the most valuable asset your company may hold. This is why we have put together 6 tips that will help you protect you and your company’s intellectual property.
- Research. If you have an innovative idea do a bit of research to make sure it isn’t already patented. A quick google search can save you a lot of time and money.
- Patent your ideas! Even if you don’t necessarily intend on developing them yourself, someone else may want to purchase or license that patent from you.
- Specialized attorneys. Use a patent attorney to file your patents and insist on a fixed fee.
- File for international patents. U.S. patents won’t protect your ideas from international competition.
- Write up an NDA. Make sure to use non-disclosure agreements (NDA’s) with all employees, manufacturing partners and investors to help prevent them leaking or stealing your IP.
- Do more research! Become familiar with the differences between patents, copyrights and trademark
Intellectual property is a crucial asset for every business. To get value out of your intellectual property you must to able to identify it and act quickly to protect it. Just think if another business had the right to use your logo, your name, or your invention. The would cause confusion for your customers.
Got the next great invention? At Lime Design we will help you develop your idea into an actual product. Contact us today so we can put you in touch with a patent attorney that specializes in your type of products and IP protection needs.