Why do I need to protect my intellectual property?

In doing business, we develop and cultivate novel ideas. Intellectual property or “IP” refers to the ideas or works and processes that stem from those ideas. When ideas develop under the umbrella of your business, it is pertinent to protect them as your company’s intellectual property. Examples include company logos, manufacturing methods, or original written works. Trademarks, copyrights, and patents are the three main ways to protect intellectual property. Theft of intellectual property can be very damaging to a small business, so it’s important to understand what intellectual property includes. Without a proper understanding of intellectual property, a competitor can take credit for your business ideas.

So what is intellectual property for a small business? A company’s assets include 1) physical assets (e.g., equipment and inventory) and 2) intangible assets (e.g., product prototypes and manufacturing processes). While it is important that we protect our physical assets, intangible assets have become increasingly valuable in the Internet Age, which has placed high premiums on ideas and ability to monetize those ideas. So it is important that small businesses protect those intangible ideas, also known as your company’s intellectual property. Some of these intangible ideas include your product, branding, packing, website, and marketing.

Remember this post is not legal advice, nor does it create an attorney-client relationship between the reader and Antares Law Group, LLC. If you are concerned with protecting your company’s intellectual property, reach out to Antares Law Group attorneys for a consultation.