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5 Tools For Protecting Your Intellectual Property

22 December 2020

Yvonne Russell

The concept of intellectual property (IP) is a major driver of innovation in modern economies. You have the right to protect your interests in IP, but you also need to use the right tools to get the job done. Here are 5 ways intellectual property protection attorneys preserve their clients' interests.

Registration

As is common in the legal system, documentation is a big deal. In IP cases, that means you want to send formal documents and applications to appropriate authorities to make them aware of your interests. For example, an inventor would send a patent application to the USPTO, and this would begin the process of documenting the intellectual property's existence and the inventor's particular claims about it. Similarly, you might send documentation to authorities in other countries to increase the potential enforceability of your claims elsewhere.

Especially with the rise of brands as value generators, it's a good idea to register a broad set of things related to your IP. Trademarks, service marks, and copyrights are all frequently used to protect interests in intellectual properties. Likewise, the grant of one may provide some protection if authorities reject or fail to approve a different one.

Licensing

Once your IP is documented, you may want to develop a licensing regime. This allows you to sell the rights to use the IP without losing control. Particularly with solutions that will appeal across industries, a licensing system can discourage infringement by providing a way for other parties to access the IP without cheating.

Notices

When you believe a party has infringed on your intellectual property, the law expects you to make a good-faith effort to inform them of the issue. You can have your intellectual property protection attorneys send them formal letters stating which rights are infringed and under what provisions of the law the offending parties in violation.

Negotiations

It's also worth proposing solutions if possible, such as providing a license. Similarly, it's common for an infringing party to pay some penalties. Under some circumstances, horse-trading may be an option. If a competitor owns some IP that you're interested in, you may want to propose licensing your IP to them in exchange for a similar license for theirs.

Lawsuits

When notices and negotiations fail to get the job done, it may be time to sue. A lawsuit opens up the discovery process, and you may be able to use obtained evidence to press for penalties and sanctions. Likewise, you'll be able to demand economic damages. For additional information contact an intellectual property protection attorney.

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