In many cases, protecting intellectual property is an afterthought for busy entrepreneurs and business owners. In the face of other start-up costs and the time necessary to focus on what makes your business great, many people will de-prioritize protections for the intellectual property that is rightfully theirs. This often results in defensive legal action later on that could have been avoided with a bit of planning. Today, we’ll discuss some first steps you can take to protect your ideas.
Believe it Could Happen to You
Apart from the cost and time expenditure, oftentimes business owners will neglect protecting their ideas because they don’t believe someone will try to copy their work. In some cases, business owners who have been the victim of intellectual property theft will report that they weren’t even sure their idea would take off. You can set yourself up for success by guarding your ideas as carefully as you would any valuable.
Identify What You Can Protect
Before you begin implementing a new idea through your business, you should begin exploring your options for protecting that idea. With many different types of businesses and products being created every day, there’s no one-size-fit for intellectual property protections. You can do your own research and/or hire a corporate lawyer in Rockford, Il who can help determine which aspects of your business can be protected through copyright, patent, trademark, or trade secret law. Research can also help determine whether your business is/will be in violation of an existing trademark or copyright.
Stake Your Claim
One of the first steps a small business should take is to create a member agreement indicating all intellectual property developed by members belongs solely to the company. An agreement like this provides protection for new ideas generated by the owners and workforce. Having employees and independent contractors sign non-disclosure and/or non-competition agreements can also help contain sensitive information. Our business attorneys in Rockford can help you create these documents, provide advice, and assist you in publicly registering your trademarks.
Contact a Corporate Lawyer in Rockford
Innovating is one of the most important parts of our identity as Americans. Utilizing your intellectual property rights early can save you a lot of time and trouble later on. The Crosby Law Firm is willing to help you do the research to determine what aspects of your business are unique and can be protected under U.S. law. Contact us for a case evaluation with a lawyer today!
