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Protect Your Brain and Everthing in it

August 19, 2013

Daily ReadProtect Your Brain and Everything in it

IP is a valuable asset that needs to be protected and insured. Sometimes, you need to take risks with their IP, typically in a small business by sharing early-stage product ideas, concepts, or business models with potential investors.  Ideally you would protect your IP with a trademark, copyright, or patent. But small businesses in the early stage don’t always have that luxury.  There are other things you can do to protect your IP. Here are a few…

Employ Internal Controls. Controlling who has access to IP and other sensitive information is key.  For confidential information that’s harder to register such as business plans, trade secrets, and customer lists, controlling who has access to them can keep things on lockdown.

Sharing Doesn’t Always Mean Caring.  There will come a time when you have to share information with someone who is not a consultant or employee. That’s where a nondisclosure agreement (NDA) comes in. You might implement “confidential policies” such as putting all verbal communications in writing or making written information “confidential.” Limit the other party’s access, especially people on a “need to know” basis, such as accountants, lawyers, or a board of directors.

Have a Solid Defense. If you have a brand name and learn another company is using it, don’t let it drag on for too long. Many companies trot out the old “cease and desist,” which are easy enough to find online. But fair warning: Empty threats won’t help you.  Instead of threatening to sue, simply state that you are ready to “take all appropriate legal action.”

For more details read entire article at: http://www.inc.com/chas-rampenthal/protecting-intellectual-property.html-

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From → Daily Reads

3 Comments
  1. sasaka permalink

    Reblogged this on thesikri.

    Like

  2. Do you care if I put some of this on my website if I include a backlink to this page?

    Like

    • No problem! Glad you find it helpful!

      Like

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