Why is it so important to protect your IP?Intellectual property is a key factor of any business, be it a small family-owned business or a multi-national company listed on the New York Stock Exchange. Intellectual Property consists of many different factors, be it designs, ideas, brand names or even a process. Many businesses don’t realise it, but your intellectual property does have a value, and once protected can be properly developed or even sold. Protecting your IP means that nobody else can steal this from you, and you can concentrate on growing and developing your business.
Protecting your businessIf your business has any products, services or processes which are unique to your business, if you don’t protect these then your competitors could be free to simply incorporate these assets into their business. You are responsible for your own intellectual property, and if it is not being protected, then you alone will be responsible for proving that your competitors have infringed your rights. This is both expensive and time consuming, particularly for a smaller business.
Goodwill HuntingGoodwill is an intangible asset of any business and can include trademarks, patents, employees and their skills, any logos or imagery of the business, relationships and even the brand name itself, as well as any reputation you may have built up. Getting a trademark can protect the brand name and protects the goodwill amongst your customer baser. Establishing your brand is pivotal to your business success, promoting it is crucial too, protecting your brand from the beginning can save you from a world of trouble further down the line.
It's all so simpleProtecting your intellectual property simply couldn’t be easier. Our Head of Intellectual Property, Joanne Shelley…