If your intellectual property is stolen, it can mean big trouble for your business. Depending on the items taken from you, it may mean that you're no longer the front-runner in the industry or lose your competitive edge.
Trademarks are extremely important to your business, and it is wise to understand why. With so much relying on good marketing, your trademark does make a difference.
To get a patent, there are several steps that you need to follow. These include determining the kind of intellectual property protection you need, determining if your invention can receive a patent, deciding what kind of patent you want and getting ready to apply. You will also have to submit an application and work with a patent examiner. If everything goes well, you will receive an approval and must then maintain your patent.
You invented a new toy for children, and you were very excited about the potential it had as a product that could make you thousands, if not millions, of dollars. You designed it well and even had your own chemical formulas created specifically for the toy. You patented the chemical because it was unique, which is why you were surprised when another company came out with an almost-identical product.