Protecting Your Intellectual Property

Protecting Your Intellectual Property

Ways to Safeguard Your Intellectual Property

Intellectual property protection was created to help spur creativity and innovation, as those who hold intellectual property rights can make a profit and earn money with their creations. Intellectual property rights, however, are not always automatic. If you hold valuable intellectual property, whether that’s in the form of an invention, a work of art, a copyrighted artifact, or otherwise, you would be best advised to take specific actions to safeguard your intellectual property.

Vital steps to protect your intellectual property rights

Waste No Time in Getting Protection

In the world of legal protections, you need to start right away to safeguard your intellectual property. If you end up waiting too long before getting your intellectual property protections, you risk nullifying your potential safeguards in the future. For example, if you create a new invention that you want to patent, the longer you wait, the more risk there is that someone comes up with a similar enough idea that will pre-empt your patent protection. Even in the types of safeguards that can take months to secure, such as patents, you will ultimately be protected from people profiting off your unique intellectual property as long as the paperwork in your process was started.

Understand the Different Types of Protections

Starting that process is important, but the right types of intellectual property safeguards need to be used to protect your rights fully. For example, patents come in different forms, such as utility patents, provisional patents, or design patents. For works of art, copyrights might be necessary to make sure others can’t sell your designs. Trademarks are necessary intellectual property intended to allow exclusive use of a particular type of branding, like a company name or slogan. Some creators may need multiple types of intellectual property protections, but understanding exactly which ones are right for you is imperative.

Don’t Let the Cat Out of The Bag Until You Are Secure 

A last important piece of advice for those seeking intellectual property protection is to avoid your idea or vision public before you know you’ve got your protections in place. If you share your idea publicly before protections are in place, you risk other people stealing those ideas and applying for protection on them first. Further, if you have consultants or business partners who need to know about the idea early on, make sure to secure nondisclosure and/or confidentiality agreements.

If you’re thinking of applying for intellectual property protection, reach out to the professionals at Tobin & Collins today! We’re here to help identify what you need and help you get the process started.

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