Intellectual Property (IP) is any creation that comes from the human mind. Legally, it has the same protective rights similar to any physical property or tangible asset. IP can range from product launch schedules to production, the list of patent-licenced companies or any trading secret.
Any inventions, literary and artistic works, symbols, images, logos, names, or designs used in business that have been created for it by the use of human intellect, fall into the category of intellectual property.
Businesses often face immense losses when their intellectual property is infringed. For example, someone else uses their brand name or logo or offers services or products and uses the same unique methods the business operates without their permission.
To ensure that these losses do not happen, an Intellectual Property Lawyer can help you take the proper steps to secure your IP before someone else uses it for their benefit.
What is an Intellectual Property Lawyer?
Intellectual Property Lawyers are legal professionals who practice IP law, ensuring that individuals and businesses gain ownership rights over their created or invented goods or services.
Intellectual Property Laws cover the following different areas:
Patent Law
To protect the latest technologies, inventions, industrial processes or computer programs, patents are created. In patent law, anything revolving around the patent is written and documented.
Copyright Law
Writers, photographers, musicians, artists, and others use copyrights, and copyright lawyers aid in protecting their creations. Copyright law offers authors the right to use, control and decide how their IP can be used and by whom.
Trademark Law
A business name, logo, and slogan are protected by trademark law. Paperwork is created and filed by trademark lawyers to preserve these details. If someone infringes on the intellectual property, the lawyers are also responsible for filing lawsuits and dealing with the legalities by negotiating with the other party and securing the intellectual property rights.
Licensing
Licensing is a great way to deal with intellectual property theft. It allows people other than the owner to use their creations for a certain fee. For instance, if a commercial wants to use a soundtrack, it must first get a license that states they have permission to use it. Intellectual property lawyers help negotiate the grants and document these licenses.
Trade Secret Law
If a business has secret formulas or production methods, that would be a trade secret. To protect them, a trade secrets lawyer will document and protect these processes so that in case of IP theft, a business can pursue legal action.
Unfair Competition
Companies must trade and fairly produce their goods. If that does not happen, a competition lawyer will file a lawsuit and defend their client against unfair competitors.
Ways to Protect Intellectual Property from Infringements
With excessive exposure to the Internet for business, the risk of intellectual property infringement is also growing. This makes IP protection against such violations one of the most crucial aspects of any business. Tips to protect your IP are mentioned below.
- Intellectual Property Rights and Registrations
Once a company applies for patents, trademarks, and copyrights, it holds more power regarding counterclaims and cross-licensing. Having your IP rights and registrations allows a business to stop competitors, obstruct new entrants, and hold its ground into the future.
All forms of intellectual property laws are a protective right that helps you sue the third party in case of an infringement.
- Keep Innovating
Your business survives on the need for innovation. It is easy to plagiarize. This is why when someone innovates, it hits the market like wildfire. Always stay on top of your game, and keep innovating. Your ideas and your intellect are indeed yours alone. If you create an endless innovation loop, your competitors will never catch up with you, making you take rapid evolutionary leaps!
- Record Your Evidence
Instances occur where rivals find your intellectual property through leaks. With that information, they file for patents, claiming them as their own. But you can always counterclaim your IP. Since intellectual property is such an intangible asset, you need a proper strategy to protect it.
You can achieve that by documenting the evolution of intellectual property. A maintained log that contains dated and signed copies of your work would help, for example. Work with your Intellectual Property lawyer to know the best way to keep a record of your IP.
- Separation of Teams
Never let any one person know your whole idea unless you have gotten it licensed and registered. If you have a large team, they should only know parts of the concept they work on. This way, when it comes to breaching and infringing your intellectual property, the whole team would need to conspire against you, which is rarely the case. So, keep your trade secrets a secret.
- Report Intellectual Property Violations
When you learn about IP infringement and violations, contact your Intellectual Property lawyer and sue the troublemakers. Your trademark and patent security allow you to use your rights against the culprits and gain back authority over what is rightfully yours.
- Escape Joint Ownership For Intellectual Property Rights
In most cases, joint ownership of intellectual property is always confusing and makes the legalities of intellectual property very weak. It is always more beneficial to keep control of your IP to avoid the risk of infringement in the future.
You never know when people will turn their backs on you, but you can always trust yourself.
- Draft Strong Non-Disclosure Agreements
The terms of your NDA should always be clear and concise, and your contracts should speak of protecting your intellectual property and the consequences of an infringement.
Often, humans are the weakest link in the defense chain. People, such as new partners and employees, should not be given room to make mistakes or show their incompetence. And an NDA ensures that they don’t have room to be sly or mindless.
Final Thoughts
Aside from legalities, secure your IP both physically and digitally. Keep doors locked where sensitive data is stored, and always keep your digital files password-protected.
It is ideal for building a firewall around your intellectual property to avoid infringement. Taking all the necessary steps and keeping track of all legalities is important. Intellectual property can become the lifeblood of your business, and you must protect it.
