Entrepreneurs have a keen understanding that time and money are important assets for their company. However, a lot of entrepreneurs don’t include their intellectual property in that list. In fact, many small business owners don’t even consider whether or not they have intellectual property. This leaves a lot of valuable creative work at risk.
Intellectual property is a legal concept which is used to describe a business asset that cannot be held in your hand and is intangible by its nature. IP is the result of human imagination, creativity, and ingenuity that has value in the marketplace. Sometimes it’s easiest to understand intellectual property by referring to the methods used to register them, such as:
- A copyright, which protects your creative work in tangible form for books, movies, music, games, artwork, etc.
- A trademark or service mark, that helps differentiate your company from others, including logos, slogans, sounds, or colors.
- A Patent, which protect inventions and new and original aesthetic designs of products.
Knowing this, you may still question whether or not your intellectual property should be protected locally. Below you will find two questions that will help you decide whether or not you need to take steps to protect your property.
- Is the intellectual property directly related to your favorable business position?
- Does the intellectual property have value in the marketplace?
Many times, an entrepreneur’s business success depends on their intellectual property. If this describes your position, feel free to call our intellectual property attorneys at 888-666-0062 to get started protecting your business right away.
DISCLAIMER: The information contained in this article is for informational purposes only and is not legal advice or a substitute for obtaining legal advice from an attorney.
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