Getting a spark of inspiration for a product, service, or other idea is a feeling that doesn’t get old. Unfortunately, some people feel that they have to steal from others in order to utilize something truly original and revolutionary in their field. If you don’t want this to happen to you, here’s how you can go about securing your intellectual property.
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Consult the Experts
Protecting your intellectual property isn’t the same as protecting physical property, so it’s easy for lines to be blurred when you don’t know what you’re doing. The single best first step you can take in this case is to consult with patent attorneys. They can help you figure out how to register a patent and make sure it is done correctly. They can also help you search for similar ideas to make sure yours is actually unique. You don’t want to invest time, enesergy, and money into an idea that will infringe on someone else’s copyright.
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Secure Your Brand
To help establish yourself in the business as both a professional and an expert in your unique product or service, get to developing your brand. This is the time to get your logo, your domain name, your business name, and the names of your products. The sooner you register, the less likely someone will be able to sneak in and get there first. Make sure you’re checking the right databases so that you don’t accidentally try to take someone else’s names. Your brand is how your customers will relate to your company, to having to change elements later on can be detrimental to your growth.
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Secure Your Network
Chances are all material related to your business ideas live somewhere in your personal computer, or maybe your work computer. One of the easiest ways someone can compromise this information is by accessing your devices, so take another look at your online security set up. Make sure your devices are password protected and evaluate your network security. If you have the budget, it may be worth it to hire an IT expert so you always have one on hand in case of emergencies.
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Consider IP Insurance
Even when you go through great lengths to protect your intellectual property, there’s still a chance that someone will attempt to benefit from all of your hard work. The legal proceedings can get expensive and stretch on and on. All that time and money, let alone the implications of a lawsuit, can greatly impact your business proceedings. The right liability policy can go a long way in making you feel more secure.
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Don’t Share Ownership
If you work with partners or want to brainstorm new product ideas with a group, you may want to reconsider. Legal proceedings can get tricky when more than one person has ownership of an idea, and you never know when a falling out will happen. Letting another person partially control your creative ideas can hinder your progress as you grow your company and want to develop new projects, and big disagreements can turn into lawsuits that destroy friendships.
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Use an NDA
If you’re not the only one handling your ideas and products, you need to think about using a non-disclosure agreement. Any employees with access to your network or proprietary information could be a potential leak later on. Don’t give them the opportunity to be snatched up by your competitors, or perhaps worse, become one of your competitors, using your intellectual property. When you’ve already established a working relationship with an attorney, they can easily draw up an agreement for your business.
Intellectual property is often the driving force behind a company’s success, but it can also prove difficult to protect under different circumstances. Consult a lawyer and don’t leave your ideas on the table for just anyone to take. With a little planning, you can safely utilize your ideas to grow your business with confidence.
