Protecting intellectual property

| Feb 5, 2018 | Intellectual Property Litigation

Have you got good idea for a new product, or have you invented a new marketable gadget? Maybe you have written a song or a book. Whatever your intellectual property is, you need to decide if it is going to need protection. If it is going to be a marketable item, you will more than likely want to protect it from the possibility of someone else using it to make money and leaving you in the cold.

If you are unsure if your idea or property is worth protecting, you should seek legal advice from an attorney who is experienced in intellectual property protection. He or she will be able to assess your intellectual property and advise you whether or not it has marketable value worth protecting. If it does, they will know the best way to protect it.

Depending on what your intellectual property is, you may need a patent, a copyright or a trademark. You could even need multiple patents, copyrights or trademarks, depending on the elements involved. A recipe for instance might need a patent, but there also may be a certain method of obtaining an ingredient. Both the recipe and the method may need to be patented. A design for marketing the completed product might require a trademark.

Royalties is another way of benefiting from your intellectual property. Most people think of recordings, writings or photography when they think of collecting royalties, and those certainly do apply. However, there are other types of intellectual property that you might be able to collect royalties on. For example, you may have devised a certain method of extracting sap from a plant. If there are others who will be using your method for monetary gain, you can have your attorney help you with a royalty arrangement.

Protecting your ideas, methods, writings, songs, products or whatever it may be is extremely important if it is to be used for financial gain. You should acquire protection early and correctly or someone else may infringe on your property. If someone has infringed on your intellectual property, seek legal assistance. This may result in intellectual property litigation if the issue cannot be resolved.