With the ever-increasing ease in which information can spread, it is becoming harder to secure your intellectual property (IP) or product ideas and ensure they are not unfairly recreated or produced by someone else. Whether you are a small start-up or a multinational organization, taking steps to protect your intellectual property should be a priority within your business.
- Trademarking your business trademarks and patenting inventions are two common ways to protect a business’s intellectual property, but intellectual property is not limited to those two areas. Trade secrets and confidential information should also be protected.
- Protect your businesses’ intellectual property from use by departing employees. It is important that your employment contracts set out the employee’s obligations with regards to IP, both during and after the employment. If you are not sure whether your employment contracts cover such issues, you should have an attorney review and modify them accordingly.
- Another way in which trade secrets are lost is by businesses not protecting themselves when dealing with partners, customers and suppliers. Often it is necessary to provide confidential information to a potential customer or supplier in order to secure the deal. It is vital to protect that IP as much as possible in such situations.
- The first step is to sign a confidentiality agreement. If you proceed to do business with the other company, the next contract can deal with the intellectual property in more detail; for example, whether the intellectual property that is created is assigned (sold) or licensed to the other business.
- If your intellectual property has been copied or stolen by a competitor you should consider taking legal action. The first step may be a cease and desist letter. An attorney can assess your situation and determine whether you have a good case.
Please feel free to contact JV LAW GROUP if you have any questions or concerns at 714-752-3270, or via email info@jvlawgroup.com.
