A business may be established on the principle of marketing a unique product or service or manufacturing a commodity with a completely new and innovative process. It is essential for an enterprise to put in place a system for safeguarding the product, service or process from unauthorized usage and to ensure that the owner holds the right to exploit the for monetary benefits. A simple guide designed by intellectual property lawyers for entrepreneurs looking to establish a mechanism for protecting such assets is being presented here. This information will be helpful in minimizing chances of theft or inappropriate usage of the asset which may require hiring of intellectual property dispute lawyers for the resolution of the matter.
1. Identify Your Intellectual Property Assets
In order to create a security mechanism that will help in protecting the IP assets, it is important to first identify all the different types of such property present in your establishment. The law has made provisions by separating such assets in three main categories and a definition of each one of them will help you in understanding the nature of all such assets of your enterprise.
i. Patent
A patent is granted to an inventor who has created a new machine, process or improved an existing procedure or tool, after the inventor successfully proves to the specified authority that the product or process in question is really unique and performs some useful function.
ii. Trademark
Trademarks provide protection to an organization’s brand name, logo or any such unique design pattern that helps in distinguishing a product from other similar items in its category. The process to obtain one requires conducting of trademark searches which establish the uniqueness of the sign or symbol before applying for the protection.
iii. Copyright
Copyright law safeguards all artistic, literary, dramatic, choreographic and architectural creations. Here, the person/ organization responsible for their creation is awarded the copyright. Even computer software is provided protection by this law and anyone desiring to obtain a copyright must present the creation on a tangible medium like a piece of paper to the authorities for assessment of their uniqueness.
2. Prioritize The Assets To Be Safeguarded
The above information will help you in categorizing all your different types of assets and creations which will further be helpful in assessing the need for applying for legal protection with the help of professionals such as intellectual property lawyers in India. For instance, if your enterprise uses a new process for manufacturing of a generic product then the process needs to be patented while the branding, logo and other similar items used to provide a distinct identity to the commodity, need to be trademarked.
Furthermore, there may be user manuals or product guides which must be provided protection under the copyright law. Create a list with all the assets listed according to the importance they hold for the well- being and growth of the organization. Prioritization of assets will be helpful in identification of the appropriate method of safeguarding for each one of them and also in devising a strategy for conducting process in as less time as possible.
3. Set A Protection System Inside The Enterprise
All intellectual property lawyers insist that besides securing the rights of ownership and usage through appropriate government agencies, it is essential for business owners to develop and establish an efficient system for their protection inside the organization. Let’s take a look at some of the steps that entrepreneurs can take in this regard :
i. Signing Non- Disclosure Agreements With Contractors And Employees
A business process requires efforts from employees as well as outside personnel like consultants and contractors. This makes it important to implement safeguards that prevent the leakage of information from any such person or employees. A non- disclosure agreement which has been drafted by competent legal professional establishes the confidential nature of the asset. Therefore, it can be a very effective tool for initiating legal action in case of violation of the clause.
ii. Including A Clause Of Confidentiality In The Employee Manual
Introducing a confidentiality clause in the employee manual issued by the company helps in two ways –
- Make the staff members aware about the need to protect the IP of the enterprise
- Make them liable for any breaching of the clause.
iii. Enforcing Non- Compete Agreements With Employees And Contractors
Serving professionals and ex- staff members can leak sensitive information related to IP assets. In order to prevent this, a non-compete agreement must be signed with employees and contractors hired for any project.
4. Safeguard Assets From External Threats
Entrepreneurs must take some necessary steps to safeguard all intellectual property assets from unauthorized usage or infringements like copying. This provides them a legal shield which can be used to take appropriate action in case of any infringement. Hence, a business owner must take the following steps to secure the IP assets :
i. Patent The Invented Product Or Process
Patent all the unique products or a manufacturing process that has been invented for/by you. This way no other entity can copy and market it. Hence, getting a patent is important as the holder is ensured of no competition. The registration will ensure that anyone trying to sell the same product will be legally barred from doing so.
ii. Register Trademark For All Branding Tools
All the branding tools like logos, packaging design, brand name etc. impart a distinctive identity to your product. Hence, getting trademark registrations for all such assets is necessary so that no one else can copy them.
iii. Copyright All Valuable Written Material
Copyright registrations is given to both –
- Publishing houses or artists for their publications or creations
- Corporations who secure written materials like product manuals or user guides
If left unprotected, manufacturers of similar products can copy these materials.
iv. Display IP Ownership On Your Products
The product packages must display all the IP ownership like trademarks and copyrights. This helps inform everyone about the nature of your claim over the item.
Conclusion
The intellectual property assets are critical for the financial well being of any organization and therefore it is essential that business owners engage the services of reputable intellectual property lawyers who can advise on the best ways to ensure protection for such assets.
Author Bio
Amy Jones is a certified legal expert by profession and she is associated with Ahlawat & Associates. A leading one of the top law firms in India. She loves sharing useful information about business, finance and law with needy people. Follow her on twitter.
