Don't believe everything you hear
Myths and misconceptions abound in the world of intellectual property protection. You have probably heard one or more of the myths listed below. Let us help you sort out what is fact and what is fiction.
You may have IP if you have…
- Brands
- Product designs
- Product packaging
- Manufacturing methods & processes
- Websites
- Social media
- Other content
- Product shapes & configurations
What matters is NOT the size of the company, but the work you do including the design, production, marketing, sales.
Small companies are often the most innovative as they navigate their place in the market. The next investment round frequently depends on whether those innovations are protected.
Many types of IP protection are NOT particularly expensive, but still offer the possibility of valuable protection.
Protecting your IP can help preserve your investments in technology, marketing, content, and brand development. Protection can come in the form of trademark/service mark registration, copyrights, trade dress, and design patents
IP protection is often granted based on priority (i.e., who filed first for protection). The US and most foreign countries are ‘first to file’ jurisdictions. Between two applications for protection of the same invention, the patent (if granted) is awarded to whoever filed first. It’s better to file earlier than later!
It’s generally faster, easier, and less expensive to avoid mistakes than to fix mistakes when it comes to IP. Making the initial time investment early to protect your IP can help you avoid mistakes that can take up your time and money later. Your IP attorney can help to minimize your time spent on legal matters so you can focus on your business.
Your IP rights can provide significant barriers to competitors if those rights are well-protected. This is where your IP attorney comes in by being aware, diligent, and willing to monitor your IP and your competition.
If you handle IP yourself, you run the risk of running into common pitfalls your IP attorney can help you avoid. It may be too late or too expensive to fix your mistakes. The wrong strategy can limit your scope of IP protection too.