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What steps can I take to protect my business's intellectual property?

Picture of Chris Battis By   ·  1 minute read

As a lawyer, I would recommend taking the following steps to protect your business's intellectual property:

  1. Conduct an IP Audit: Start by identifying all your business’s valuable intellectual property assets, including patents, trade secrets, copyrights, and trademarks. This step will help you identify the intellectual property that needs protection.
  2. Register Your Intellectual Property: Register your trademarks, patents and copyrights in your country or jurisdiction. Filing a trademark, patent or copyright application provides a legal presumption of ownership and can be used as evidence in court in case of infringement.
  3. Use Non-Disclosure Agreements: Use non-disclosure agreements (NDAs) or confidentiality agreements whenever you share sensitive information with employees, contractors, vendors, joint venture partners, or any other third parties. NDAs protect your intellectual property by preventing unauthorized use or disclosure of your confidential information.
  4. Draft IP License Agreements: License agreements allow you to give permission to use your intellectual property to third parties. Ensure you use a valid license agreement that is tailored to your business needs to ensure your intellectual property is properly protected.
  5. Monitor Use of Your IP: Monitor the use of your intellectual property in the market to check for infringement. Conduct regular searches and monitor trade publications to identify and locate infringers.
  6. Take Legal Action: If you suspect an infringement of your intellectual property rights, act promptly, and take legal action against infringers. Ensure that you have a strong legal case and seek the advice of an experienced intellectual property lawyer.

It's important to note that the actual steps to protect your business's intellectual property may vary depending on your specific situation and applicable laws in your jurisdiction. It is recommended to engage with an experienced intellectual property lawyer to receive tailored advice and guidance related to your specific situation.