5 things you need to know about Protecting your Intellectual Property
- Trademarking your business trademarks, and patenting inventions, are two common ways to protect a business’s intellectual property, but intellectual property is not limited to those two areas. Trade secrets and confidential information should also be protected as far as possible.
- Your need to protect your businesses’ intellectual property from use by departing employees. It is important that your employment contracts set out the employee’s obligations with regards to IP, both during and after the employment. If you’re not sure whether your employment contracts are up to scratch, get them checked by an employment lawyer.
- Another way in which trade secrets are lost is by businesses not protecting themselves when dealing with partners, customers and suppliers. Often it’s necessary to provide confidential information to a potential customer or supplier to secure the deal. It’s vital to protect that IP as far as possible in such situations.
- The first step is to sign a confidentiality agreement. If you proceed to do business with the other company, the next contract can deal with the intellectual property in more detail, for example, whether the intellectual property that is created is assigned (sold) or licensed to the other business.
- If your intellectual property has been copied or stolen by a competitor, you should consider taking legal action. The first step may be a cease and desist letter, to stop them using your intellectual property. An IP lawyer will be able to assess your situation, and determine whether you have a good case.
Commercial Law, Contract Law, Information Technology And Online Law, Intellectual Property, Capital Raising LawExperience:
Bank of America Merrill Lynch, Baker & McKenzie, Hogben Group
Intellectual Property, Trademarks, Information Technology/Online LawExperience:
Clifford Chance, Sparke Helmore, Wallington Dummer Patent & Trademark Attorneys