Common intellectual property mistakes made by Start-ups and Small business
Q. Why do small business and start-ups need to be relatively more vigilant about their intellectual property right in the States or Israel?
According to this informational website, “IP or Intellectual Property refers to creations of the mind, such as inventions; literary and artistic works’ designs’ and symbols, names and images used in commerce.” That person needs to protect their IP.
Business owners need to be aware of the pitfalls of IP and protect their rights. Risks for copyright piracy, infringements on patents, and the counterfeiting of trademarks and brands are increasing. There is a real risk for IP theft in many countries, including Isreal.
You may not even be aware theft of products are happening. Many of the smaller businesses fail to realize the critical need to file for IP protection when exporting abroad. Hire a skilled real estate law firm to protect IP.
Q. What are the common IP mistakes made by start-ups and the impact?
The success of small companies is driven by innovations, new ideas, brands, and logos that consumers identify to particular products. The following is at least seven IP mistakes that new business owners make and need to avoid.
. Business owners simply feel that their IP is not of real value. Thus the company fails to protect its IP assets.
. You fail to create a plan to protect your IP, the most valuable part of your company. You risk,
. Infringements on third party entities
. The company cannot build any value
. Helps to avoid IP lawsuits
. When company creators and decision makers do not communicate daily, how can you protect valuable assets? The decision-makers help to avoid impending lawsuits.
. Make sure the Trademark you chose is not already used. This can cost you big money. If your business infringes on a Trademark you have no other option then to rebrand.
Q. How does a business ensure timely and accurate enforcement of IP rights?
. The first and most vital step is to protect your brand and secure the product through a patent and copyright.
. Block others from creating a similar product.
. Innovate, upgrade brands continually.
. No employee needs complete information on your brand.
. Join a community of developers to help add technological advances.
. Never have joint ownership of IP.
. Domain names need to be an exact match.
. Protect assets from breaches by keeping ideas, and creations under lock and key, and protected.
. Draw up Non-Disclosure Agreements (NDAs) and Non-Circumvention Agreements (NCAs).
. Keep ideas and creations secret, never announce trade secrets.
. Protect secret IP by publishing and using frequent references to your IP.
Q. What are some IP rights situations where you would need legal help?
A. Trademark, Utility, Design, and Plant Patents, and Copyrights need to address the correct paperwork and filing. This protects your IP assets. You need an IP attorney to make sure everything is legally in place.
Q. How can David Page Law help you in time of need?
Access this intellectual property lawyers’ website for in-depth information on how this attorney is business savvy and seasoned in a competitive environment in Israel and abroad.
This law firm allows you to access the work of seasoned professionals in the practice areas of trusts, estates, probate, business law, wills, commercial and residential real estate, due diligence, global patent and trademark strategies, IP strategy and filings, labor and employment law, regulatory compliance related to medical issues and medical devices, OTC drugs, chemicals regulation, and environmental issues.
David Page Law is fluent in multiple languages, provides clients with holistic legal counsel, unsurpassed dedication, and commitment to clients as well as clear and reasonable fees in advance – no unpleasant surprises.
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