Big Intellectual Property Mistakes Made By Businesses
Building a big business is the dream of many, but one big problem with finding success is that everyone else wants to tear you down — and they usually do that most successfully in court. The bigger your business becomes, the more likely it is that you get caught making a mistake you didn’t even realize you were guilty of. Here are a few mistakes your business might be making right now.
One of the biggest mistakes that a business might make is two-fold: Either you don’t know whether your products, services, brand, or logos can be protected, or you don’t know that yours already infringe on someone else’s protected IP. Regardless of which situation you find yourself in, these are costly mistakes. You might be sued, or you might have to sue someone else.
The most obvious solution? Make sure to search for registrations or trademarks that might seem similar. Hire an IP lawyer to help you sort out the details. And be sure to register your own trademarks for additional protections.
Did you unveil an invention prematurely? Even tech giants are guilty of this one. Once that reveal takes place, everyone knows you have tech to steal either in or out of court. Be sure to file a patent application to protect your idea before you bring a new product to market.
Maybe your business model doesn’t even consider intellectual property in the first place! These protections prevent other companies from stealing your brand when it becomes successful. And when we say “steal,” keep in mind that’s an umbrella term that can mean any number of things. Maybe another company likes your logo and realizes you haven’t filed any protections. They might alter it just enough to escape justice.
Not sure you have any IP that needs protecting? Almost certainly you do. And it saves money to ask an IP lawyer what can be done right now, versus waiting until the worst happens.