Ask a business owner from 100 years ago what their number one asset was, and you would have probably been told it was their employees. That was true in a day when many people started and ended their working careers with the same company.
These days, however, jobs come and go — and so do the people who fill them. For most companies, regardless of their size, the most valuable asset they hold is intangible: It’s their intellectual property. The creative ideas and products that help a company stand out from a crowd of competitors are the heart and soul of most modern businesses.
Groundbreaking or even just unique intellectual property is what separates the businesses that will ultimately thrive and survive from the ones that won’t. That makes it particularly important not to underestimate just how valuable the following are to your company’s success:
- Trade secrets
- Design improvements
Unfortunately, it isn’t easy to protect against intellectual property infringement or theft. While some cases are accidental — usually rising out of confusion over ownership rights — others are intentional. Your case might involve people you once trusted — which can make it difficult to handle the emotions you feel when this sort of thing happens. Typically, businesses have found that litigation over intellectual property is expensive and many business insurance policies have exclusions regarding intellectual property rights that leave gaps in their coverage.
When you work with our firm on an intellectual property dispute that could end up in court, we help you determine if litigation makes sense for your situation. We can also look for ways to resolve the dispute without resorting to a legal battle.