Before you move ahead with the ideas of protecting the intellectual property, it is essential to know what it covers. It is a comprehensive term used for the creations of individuals or businesses such as the copyrights, the trademark, patent, and designs. It is often linked to other areas as well such as trade secrets and confidentiality.
Understanding the intellectual property you own is vital when you need to find ways to protect it. It is equally important to keep the patented inventions secret until the time of filing the application.
However, the startups have a different equation to follow.
Now the question is how important it is for the startups to file for the patent?
With the success of several high-profile tech companies with relatively less strength in the area of the patent, it is time to rethink the option.
It is expensive to create an IP portfolio, so the best option is to allow the business to scale and first and apply for the patent later.
Here are a few effective ways to follow when you need to protect your intellectual property.
Getting the basics
The first step is to figure out your intellectual property so that you know what you want to protect.
Whether it is the name of the company, drawings, slogans, or the designs, there are a lot of things you may need to protect.
The next step is to document the ideas, plans, designs, and drawings, so that you can raise the alarm if someone else claims your ideas as their own.
If you own a business in this country, try to find out from the intellectual property lawyers in India how exactly you must protect your property.
Just remember that IP may be a regional right, and the rules of protection can differ from one country to another.
Your registered trademark, design and patents can only be protected in those countries where you have registered and granted the rights.
Filing the provisional application
When it comes to procuring a patent, you can start with filing the provisional application even if the entire design or logo is yet to be created. It will help you to protect whatever you have created, and you can file another application making the necessary changes in the drawing or the design.
The “patent pending” tag will warn other people if they try to steal your ideas.
Beware of sharing
Although people may not try to steal or destroy your intellectual property, it is better to stay safe rather than regret later.
Try to get the background information of people with which to share the ideas as you will better know whether to trust them or not.
Be wary of the partners and the employees and trust your instincts before sharing your ideas. When you work with an intellectual property lawyer, try to find out an individual offering fixed rate to file the application.
Speaking to people
The ideas often get stolen when you speak to someone else about it. However, you may find it hard to prove it once you have snapped the discussion.
It is better to follow the electronic chat option to discuss about your drawings and designs to keep a record of people with whom you have shared your ideas.
Investing in NDA
For the protection of your intellectual property, you must invest in a well-written NDA for the licenses, agreements, technology transfer and sales contracts from the scratch so that they stay are completely secured.
Patents can take a long time to issue, so make sure you file the application as fast as you can.
To make a business successful, you must not feel afraid to share your ideas with the others. You need to ward off the risks but take care not to sabotage the progress of the business.