Intellectual property (IP) is a form of property that has been created by the human mind. In other words, it’s an expression of an idea - be it a design, a business name, a product or a process. When these ideas are unique, they become your intellectual property. It is a important to protect your intellectual property to avoid it being stolen by or accredited to others, especially if you are turning it into a business or it relates to your current business. We have listed five steps for you to follow to protect your intellectual property.
Different forms of protection for your IP are available in intellectual property law. It is important to identify what type of IP you own in order to use the best form of protection to cover it. For example, product names, business names or logos can be[VC1] covered through registering a trademark, whereas things like writing, artwork or music are copyrighted. Copyright is an automatic right for the first owner of a piece of work, in accordance with the Copyright, Designs and Patents Act 1988.
If you own a business and have employees or work closely with collaborators who know about your IP, it is imperative to have them sign non-disclosure agreements (NDAs) acknowledging your sole ownership of the intellectual property to prevent IP theft from within your organisation/circle of collaborators.
You can also leverage your IP by licensing third parties to use it.
It is vital to keep records throughout any development of your IP evidencing that it is you who has made the changes. This could be dating and filing any draftwork or changes to the original idea, for example. Controlling who then has access to any of this information can be done through the use of reliable software, password protection with two-step authentication and secure networks. The number of people who have access should be kept minimal to further avoid internal infringement.
Different types of protection require different time allowances for applications to be granted, so it is important to protect your IP early to allow for these. Here are four of the most common forms of IP protection and the length is takes for them to be granted after application:
● Copyright: effective immediately - no application is needed (although using the copyright symbol is advised).
● Registering a design: you should allow two-three weeks.
● Registering a trademark: you should allow three-four months.
● Obtaining a patent: you should allow several years, depending on the complexity.
If you wish to protect your IP overseas, there will be different international registrations you must obtain. Speaking to a patent or trademark attorney can help you with information on these and how to apply for them.
Paddle & Cocks offer assistance drafting, reviewing and negotiating, assignments and licences of all types of intellectual property including database rights, trademarks and patents. In addition, we also deal with trademark infringement and passing off.
Contact us today if you’re looking to protect your intellectual property and wish to discuss your options with a specialist IP solicitor. [VC1]You need to also include something on patents and design rights.