In order to protect IP, a business can take the following
three measures. The first effective measure is to register a trade mark which
is a sign used to distinguish the goods or services of one trader from those of
another. I found that if certain trade marks such as a logo, name and signature
were registered, the registered owner of the trade mark has exclusive rights to
use it and to authorize others to use it. Applying a patent is a second way to
protect IP. I learned that a patent gives the patentee the exclusive rights to
exploit the invention and to authorize another person to exploit it during the
term of patent. What counts is the validity as an infringement may only be
initiated if the patent is valid. The last IP protection strategy is to authorise
confidential information by signing a contract, which is an alternative to
patenting. It keeps information secret under the law of confidentiality when
sharing information with third party at start of a business.
Understanding ownership of IP rights is
important for a business. It not only prevents business IP against
infringement, but also eliminates risks of being an infringer. I discovered
that there are different ways to make money from IP rights such as buying,
selling and licensing. When you buy a business that is already established, you
buy more than the stock or the right to sell products, the IP and the rights to
use it should be bought at the same time. Therefore, the key thing is to
ensure ownership of all IP assets are transferred into your name and be valued
on the date bought. Furthermore, many businesses are built around licensing.
The owner of IP rights may license someone else to exercise those IP right for
charging fees, and the person be granted to the rights might then offer the
public a license to use that IP for profits
don't wait to protect your business IP
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