Feb 22, 2017

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Protecting your intellectual Property

Protecting your intellectual Property

 

With so many ways in which information is being shared today, protecting your intellectual property has become a real challenge.  For your startup, you must know that patent protection is very important.  After all, you do no want anyone copying your ideas and getting the benefit that should be yours.

You might be thinking the whole IP game and judging if keeping such portfolio robust is really worth the effort.  We have seen after all that large companies such as Facebook and Twitter did not play it too tough in that department.  These were startups once with great and innovating ideas that they simply did not see too fit to protect.  However, as evidenced by these and other large corporations such as Google, Apple, or Microsoft, having a strong intellectual property protection is no guarantee of success.

Nevertheless, if you have a startup, you should plan for success.  Today’s large innovators such as the ones mentioned above spend millions of dollars to ensure diverse and innovative IP portfolios.  As a startup yourself, here are some ways in which you should protect your intellectual property.

  • Educate yourself.  Invest time, along with your team to learn everything there is to know about copyright, trademark, patents, and trade secrets.  This will save you many headaches in the future.
  • Find an attorney that specializes in the subject and agree on a fixed rate.  Regarding this, you can save lots of money if you select an attorney in a different geography. Ivy-league lawyers from a small city are as good as ivy-league lawyers from larger cities.  The costs can be dramatically reduced, though.
  • Right from the get-go, make sure you invest in a powerful non-disclosure agreement (NDA) to properly protect your intellectual property.  Also, make sure that employment agreements, sales contracts, licenses, and technology transfer technologies are also protective of your intellectual property.
  • Be quick when it comes to filing a patent.  Once you file for a patent, you get a place in the line.  You usually have one year to expand your filing.  In some countries, this process may take up to five years.
  • Are your key competitors outside your country.  The national patents are not going to protect your IP from anyone in Europe or Asia.  This is the time in which you should learn about international patents.
  • It is very important for you to figure where are you planning to take the corporation. In other words, ask yourself what the future looks like.  This information should help with the strategy plan on  what is more important for you to file for.

We know that a patent filing requires patience and hard work.  You should be able to hire the top patent lawyer Vancouver to help build a solid intellectual property portfolio.

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