Intellectual property, from formulas and brand names to distinctive logos, are becoming a more valuable asset for many businesses. Their value can vanish or decrease if they are not protected from misappropriation, and the type of intellectual property usually determines the best type of protection. Some of the ways to best protect intellectual property include:
- Non-Disclosure Agreements. NDAs prohibit the signer from misusing your intellectual property and obligates them to return or destroy it on request.
- Digital Protections. Strong passwords, encryption, limiting access, and investing in cybersecurity tools prevent data breaches and intellectual property theft.
- Copyright. Copyright protects original works that are in a tangible form, such as written materials, blogs, designs, apps, lyrics, and music. While your creation is automatically protected by common law copyright, registering it with the U.S. Copyright Office provides extra legal benefits.
- Trademark. Trademarks protect items like your brand name, logo, or slogan that identifies your business in the marketplace. Use the ™ symbol on a brand or product name as soon as it is being used in commerce and once the trademark is registered use the ® symbol indicating a registered trademark providing additional legal benefits.
- Patents. Patents protect inventions and innovations. Obtaining a patent is complicated and expensive as most patents require the assistance of a lawyer and engineer.
- Trade Secrets. Trade secrets are your confidential information that gives your business a competitive edge, but you need to take steps to identify and safeguard them.
- Contracts and Licensing Agreements. Well drafted contracts and licensing agreements outline ownership, licensing rights, how the property can be used, and compensation, allowing you to retain ownership while giving others permission to use and monetize your intellectual property.
The attorneys at Brooks, Tarulis & Tibble, LLC can advise you and your business on your rights in such situations and address your concerns. Please call if you have any questions or issues.