Intellectual property isn’t tangible, but nonetheless it’s your business’s property. Those who aren’t from the same company shouldn’t use it without permission, as they could receive royalties that should’ve been for your business, or damage your reputation. Even if there are laws that protect your rights from such wrongdoing, it’s best to have a better idea about it.
Protecting Your Trade Secrets through Confidentiality
Many businesses rely on a “secret formula” to keep their operations going. The coffee products of Starbucks, for instance, are different from other coffee shops. The thing that makes Starbucks’ coffee popular is intellectual property. Trade secret laws protect company secrets from theft, but you can also require people connected to your business to sign confidentially agreements to prevent word from going out.
Protecting Your Creations through Copyright Law
Artwork, music, and words that belong to your company are subject to copyright law. If your business – or someone who works for your business – created them, LegalBrains.com states that intellectual property law could protect them.
For instance, if you conducted a market research and posted it on your website, no other entity can repost it without permission. Make sure that you own it legally, though. A third party that conducted or took part on your research can also own its rights. Unless they assign the rights to you or your business, then it’s not completely your intellectual property.
Protecting Your Identity through Trademarks
Images, sounds, and words that set you apart from other companies are part of your intellectual property. For instance, “Open Happiness” is a global marketing campaign made by Coca-Cola. Upon hearing it, people can associate it immediately with the brand. If somebody tries to use the same campaign or slightly alter it to confuse consumers, then it’s violating the trademark law.
Even if your properties aren’t tangible, intellectual property laws can help keep them under your name. Know how to protect the rights of your business by studying laws related to trademarks, copyrights, and many more to prevent their unlawful use.