Cyber Security

How to Protect Your Intellectual Property Wisely

You’ve shed tears, blood, and sweat to make your ideas come to life. Obviously, you don’t want other people to steal your hard work. Intellectual property violations are a common occurrence in this modern age, especially with the accessibility that the Internet provides. So how can you protect your intellectual property both online and in real life?

Here are some things to bear in mind:

1. Trademark your assets

Assets like brand name, slogans, logos, mascots, and even sounds can be trademarked. If you want to retain full rights to these assets, find a law group that specializes in trademarks in Salt Lake City. Not only will this protect the heart of your business, but it will also help establish your business’s legitimacy.

2. Avoid patents

While patenting your intellectual property might be your first instinct, you might want to hold off on that idea for a while. Because if you file a patent for your designs or products, competitors can find loopholes in the intellectual property rules and copy your thoughts since the “recipe” is already published.

3. Stay low-key

Nothing is wrong with announcing your success to the world, but if you reveal too much of what you’re doing, other people can steal your intellectual property before you can even cash in on the rewards (if there will even be any).

4. Avoid joint ownership

Joint ownership is more likely to cause issues in the future than it is to benefit you and the other party.

5. Increase your security

Keep all of your data safe or secure both online and in real life. Store physical documents in safe places and keep copies wherever necessary. On the other hand, make sure that your online data is both secure and backed-up in case of a data breach.

intellectual property graphic

6. Claim ownership

Whenever you publish your intellectual property, make sure you attach your company’s name on it. In this way, they will be more attributed to you, and you will more likely gain support for patents.

7. Have NDAs

Ensure that your licenses, contracts, employee agreements, and other documents have a non-disclosure agreement on them. It’s recommended that you get a legal professional to assist you with creating NDAs for your business, too.

8. File fast

If you decide to file for a patent, do it fast before anyone else can get ahead of you. Apply as soon as possible so that you secure your place in the lineup. Then, you have 12 months to finish that application, which should be more than enough time to complete the requirements.

Even though you submit a patent early, keep in mind that licenses can take five or more years to get issued.

9. Review IP

If you’re not familiar with intellectual property and what goes on around it, make sure you read up on its fundamentals. If possible, have a legal professional walk you through it so you can be better acquainted with the legal terms.

Intellectual property is one of the most crucial assets of a company. So if you want to secure your success, have your intellectual property protected from the get-go.

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