Your Business’ Real Value: Intellectual Property
The life cycle of many an innovative business in the “Startup Nation” proceeds from phenomenal idea, product creation, successful scaling, and eventually to the exit of its founders receiving the financial bounty due to them following the combination of such original thinking and passion combined with hard work.
So can you imagine discovering that following the due-diligence process carried out by that major inward investor you were sure that you’d secured, that they won’t be proceeding with that all-important investment because they’ve discovered that you don’t own the majority of your business’ value because at some stage you didn’t get the proper recognition of your ownership of your ideas?
That can be the reality for any enterprise where protecting and maintaining their Intellectual Property Rights haven’t been at the forefront of their business strategy and that is the risk you also assume if you don’t actively protect and guard your Intellectual Property.
You may be aware there are many different types of Intellectual Property which will be relevant in protecting your business. For tech start-ups these will likely include:
Patents: This is a state recognition of the right of the originator of a new invention to determine how it is used and of course enables the owner to earn a profit by allowing others to use their idea in return for payment – or of course stop competitors using these ideas for their own profit without permission.
Trademarks: These can include the logos, emblems, and any unique marks which you use to distinguish your high-quality products from those of other producers or competitors which without proper registration could be imitated to the detriment of your business’ good reputation.
Trade Secrets: The protection against your unique way of doing things to give your customers that first-rate product that only you can supply them being adopted by others.
However, Intellectual Property Rights aren’t solely the preview of the Hi-Tech world guarding the new invention from imitation. If your business focusses on producing and circulating information you’ll have a keen interest in protecting things such as:
Copyright: The right of authors and the originators of artistic works to control how that information is used, circulated, or commercialised.
Aviv Lazar & Co is keenly aware of the need for all businesses to be presented with legal Intellectual Property Solutions and consultancy advice tailored to the specific nature and set-up of your unique business. If you have any questions in this field, please contact us without delay.