When does a business owner not need to worry about registering its intellectual property?

There are not many instances where I would suggest a business owner not worry about protecting their intellectual property. If a product is not a new, innovative product, there is no need to worry about a patent, but trademarking the brand may still be critical to compete and stand out.

If a business owner has a local shop with no plans for interstate expansion, and they do not care if someone in another state has a company with the same name, they may be satisfied with their state’s trademark registry, rather than the federal registry. However, an interstate competitor may have other ideas about expansion and enforcement of its own rights. In those cases, it matters who used the name in commerce first, but it also matters who registered the name first. The outcome can result in a geographic split, but these outcomes are usually the result of expensive litigation that could have prevented with earlier planning.

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What are the critical steps to take, to protect your business’s intellectual property?

If you are a business owner, be sure your member agreement states that all intellectual property developed by members, shareholders, etc. belongs solely to the company and that members who develop  any intellectual property will execute any and all documents necessary to protect the company’s rights. This is particularly important in smaller businesses where the owners are the ones developing most or all of the creative ideas. Also, be sure that any employees and independent contractors who will work with trade secrets sign strong non-disclosure and non-competition agreements, because there is no registration for trade secrets (such as recipes and non-patentable formulas). Trade Secrets are protected only as long as they remain secret.

For example, our firm has done corporate, regulatory, and intellectual property work for almost 100 start-up breweries. We prepare these types of agreements all the time, to protect their beer recipes and formulas. We also register trademarks for their brewery names and beer brands whenever possible.

Also if possible, register it with the USPTO, U.S. Copyright Office, or in some cases, your state’s trademark registry or international registries. In some cases, a trademark is eligible for an early application before your business even opens, so take advantage of obtaining that earlier filing date. Just be aware there will be subsequent filing requirements after your business opens.

Register your copyrights on written works, including computer codes, screenplays, and artwork, and register them early. Statutory damages and attorney’s fees are usually not recoverable in an infringement action if the copyright was not registered before the infringement occurred or within 3 months of publication.

If you developed an innovative product, speak with a patent attorney about whether the product qualifies for patent protection (only attorneys who have passed a separate patent bar exam are qualified to work with patents). If the product does not qualify for patent protection, find other ways to make your product stand out, including through strong trademark branding and enforcement.

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What are the critical steps to take, to protect your business’s intellectual property?

If you are a business owner, be sure your member agreement states that all intellectual property developed by members, shareholders, etc. belongs solely to the company and that members who develop  any intellectual property will execute any and all documents necessary to protect the company’s rights. This is particularly important in smaller businesses where the owners are the ones developing most or all of the creative ideas. Also, be sure that any employees and independent contractors who will work with trade secrets sign strong non-disclosure and non-competition agreements, because there is no registration for trade secrets (such as recipes and non-patentable formulas). Trade Secrets are protected only as long as they remain secret.

For example, our firm has done corporate, regulatory, and intellectual property work for almost 100 start-up breweries. We prepare these types of agreements all the time, to protect their beer recipes and formulas. We also register trademarks for their brewery names and beer brands whenever possible.

Also if possible, register it with the USPTO, U.S. Copyright Office, or in some cases, your state’s trademark registry or international registries. In some cases, a trademark is eligible for an early application before your business even opens, so take advantage of obtaining that earlier filing date. Just be aware there will be subsequent filing requirements after your business opens.

Register your copyrights on written works, including computer codes, screenplays, and artwork, and register them early. Statutory damages and attorney’s fees are usually not recoverable in an infringement action if the copyright was not registered before the infringement occurred or within 3 months of publication.

If you developed an innovative product, speak with a patent attorney about whether the product qualifies for patent protection (only attorneys who have passed a separate patent bar exam are qualified to work with patents). If the product does not qualify for patent protection, find other ways to make your product stand out, including through strong trademark branding and enforcement.

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What are some of the common reasons why business owners don't move forward to protect their intellectual property?

If you've ever developed a new product or formulated a new business idea, you've most likely grappled with the question of whether you should to protect it legally in some way.  It can be a confusing issue, for sure, and many of the small business owners and entrepreneurs I meet don't seem to have a solid grasp of how, why and when to protect their products, or if it's even necessary.

There are a many reasons people hesitate to make intellectual property protection a priority when they are just starting a new business. They include:

1. It is another startup cost, one which is sometimes viewed as “non-essential,” simply because it is not legally required to operate the business.

2. They are unsure whether the business or product will “take off,” so they think they might not even need it.

3. They don’t anticipate anyone attempting to copy them.

4. They do not know what types of protections may be available for their products or brands.

5. They seek to keep costs down by utilizing free or inexpensive online resources.

Protecting intellectual property correctly is not simple, and many times the examining attorneys at the government agencies have questions or raise unexpected issues on the applications. That is why professional help is so important. It can be costly or limiting in the long run to skip these steps.

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Is intellectual property dead?

Intellectual property is far from dead. Trademarks are worth billions of dollars and copyright is at the root of the entertainment industry around the world. The example you cite probably refers to patents.

Patents are valuable for enhancing profit if you have a success in the marketplace. Patents will not make your product succeed with consumers. But if you have a success and have an effective Patent, then you can continue to charge higher than normal prices. This will give your business greater value if you wish to sell - out.

Unfortunately, although investors often insist that you have patents or pending patent applications, for the greater part these prospective patent rights will not have a meaningful impact on competitors in the marketplace. Perfectly valid patents issue that have “loopholes”. Of course if they cover irrelevant features then competitors will not be bothered by them. They will just omit marketing competing products that include the irrelevant feature.

Accordingly, Intellectual Property is not dead. But whether it is relevant is highly conditional, particularly in the case of patents.

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers IP Practice or contact our IP lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at (+84) 24 32 23 27 71

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What is Intellectual Property?

IntellectualProperty is the product of your thinking that can be used for commercial value. In other words, you think of a song and write down the words – you have the legal right to prevent others from copying or making a song based on your lyrics. This right you have can make you money if someone is willing to pay you for your song. Maybe your boss asked you to write a computer program. Who owns the work? You may have designed a new mouse trap and have the design on computer. Or you have created a distinctive logo for your company. But Intellectual Property goes deeper than songs or even copyrights. Let’s examine the four main areas of Intellectual Property law: Trade Secrets, Copyrights, Trademarks and Patents.

Trade secrets give the owner a competitive edge. If some information has value to competitors and they don’t know about it – then it’s a trade secret. If the information was not kept reasonably safe (secret) then it’s not a trade secret. Trade secrets may be sold with the business or stolen from bad employees. Maybe a former employee didn’t sign a non-disclosure statement before going to work at the competition. Some also reverse engineer software to gain the source code. This highly protected source code for computers is their trade secret, giving them an advantage over the competition. The trick is you have to keep your trade secrets as such, secrets.

Copyrights protect all kinds of writing by singers, writers, programmers, artists, etc… These are the best known of all intellectual property. Registering with the US Copyright office can enhance the automatic protection. You must have your copyright material on paper, tape, or computer. Copyright protection applies to the “literal expression.” It doesn’t protect the “underlying” theme of the writing. It must have some creativity. You can’t copyright a simple list. You don’t actually have to have a copyright notice since March 1st, 1989. The recommended notice is “copyright” year author’s name. For example, this article will have a copyright. Copyright 2005 Stuart Simpson. But it is not necessary.

Trademarks must be aunique name, design, symbol, logo, color, container, etc…that businesses use to distinguish their goods from others in the same market. You should have a strong name for a mark, as common words receive less protection. Like Stuart’s Cold Ice Cream Company. My name and the descriptive term (cold) are weak marks. But a distinctive name like Netflix, is a strong mark. Netflix is technically a “service” mark. It falls into the same category as trademarks. Your trademark must be submitted to the US Patent and Trademark Office (PTO). But first, the mark must be put into use “in commerce that Congress may regulate.” This means you have to sell across state lines or have a business that caters to interstate or international travelers. After you do this, you can file another form to show the mark is actually being used. The PTO checks for similar marks. You can’t use the circled R just yet. You can only use this if your logo or mark has been registered.

Patent law givesinventor of new and special invention the right to use this invention for a fixed period of time. The US Patent and Trademark Office (PTO) must find that the invention qualifies for patent protection. Your invention has to be new and novel, not obvious. What do you do with a patent? Normally, the inventors get a license agreement with a company to produce the product for a period of time. In exchange, the company pays the inventor royalties for each item sold.

Intellectual property goes further in depth on each of these items. I wanted to give you a brief description to help broaden your knowledge base when writing, creating or inventing. If your work falls into one of the above categories, do more research. I will be writing on each specific area in the future.

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers IP Practice or contact our IP lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at +8424 32 23 27 71

Author:Stuart Simpson

Source:.Articlecity.com 

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