If you have developed an intellectual product (IP), name or logo that you believe will add value to your business or organisation then it is seriously worth protecting it. Valuable intellectual property products and developments are always going to attract imitators or even less scrupulous competitors looking to copy or even take away your IP in essence without compensating you for this.
Seek Professional Advice
It is thoroughly advised to seek professional advice from specialist firms that are experienced in IP law and protection. They can tell you where you stand with your idea and what methods of IP protection you can use.
Non-Disclosure Agreements: Confidentiality agreements will add legal force to your IP products in the event of future disputes between firms and their employees. This will help to ensure that your ideas remain confidential and that nobody else can legally profit from your ideas, so long as the NDA is carefully drafted.
Licensing Arrangements: If third parties did want to use your IP legally then, provided you draw up a suitably robust licensing arrangement, then you be able to profit from your IP while still retaining control of it.
Trademarks and Patents: Forms of ownership that could be explored if you believe that the amount of time and finance needed will be worth it to protect your IP. Having a registered and approved patent or trademark will offer your IP protection in case of future infringement or blatant theft and cannot be overemphasised if you have valuable intellectual property that you deem to have value.
- Monitor your IP to see if it is being used without your knowledge or consent.
- Register your IP and keep proof of yourself being the creator.
- Protect your IP with solid arrangements or NDAs with other parties or employees.
- Avoid joint ownership of IP because of the obvious danger of future fallouts between partners.