Approach intellectual property as a savvy intellectual, Pt.2
As we promised in a recent post, there is more to be said about intellectual property law and how to utilize it toward the greater good of your ideas. The first bits of advice according to Forbes were to talk to an experienced intellectual property lawyer versus doing your own legal work and to do so early. This early interaction will better inform you of your legal needs and serve to best protect you from potential pitfalls such as copycats.
What else do intellectual property law professionals recommend entrepreneurs do to prevent the loss of their ideas' value? Below are more steps to take and mindsets to avoid when truly trying to make your ideas succeed in a competitive way:
Doubt is dangerous: Doubt about the potential success of your idea can pose a financial danger if that doubt keeps you from seeking intellectual property protection. You might worry about your idea finding a hold within the world, which then might lead you to falsely assume that no one would rip off your idea. It is better to be safe than sorry and to get the legal protection necessary to safeguard the value of your creativity and work.
Be proactive rather than defensive: Assuming the worst of people out there and protecting your intellectual property early on can save you from having to fight a dispute down the road. The proactive nature of setting up the proper trademark registration, copyright, patent, etc., is generally less stressful than fighting against a party whom is actually trying to rip off your ideas.
Protect your property from the inside: You might be a new, small business. You might think that anyone who works with or for you prioritizes the business success. Not everyone can or should be trusted. Talk to an intellectual property and/or business lawyer about the types of contracts needed to enforce that those around you cannot share or otherwise profit from your ideas.
Do you have a business that needs protection? Maybe you are just starting up and need to put the proper legal documents in place. Maybe you believe your intellectual property rights have been violated and someone or another business is wrongfully profiting from your protected ideas. Work with a trusted lawyer as soon as possible to defend your interests and mitigate outside threats to your business.