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.
Kawhi Leonard has major ties to California and hoped to keep his intellectual property lawsuit against Nike in the state, but it appears that will not happen. A California judge recently allowed the case to move to Oregon, where Nike has its headquarters.
What drives your business? You can probably point to a number of things: your employees, your dedication to customer service, your cutting-edge products and services.
When your intellectual property is stolen, it's your very idea that is being taken by someone else.
A tech start-up from California's Silicon Valley accused a tech giant in China, Huawei, of stealing trade secrets from them. A court found that the Chinese company did steal those secrets.
Ideas are the key to innovation and success in most industries. Everything starts with an idea: the computer, the smartphone, the social media platform. They all started with an idea that someone brought to life.
In the creative arts, there are few accusations as serious as plagiarism. Stealing someone else's intellectual property and passing it off as your own is not only illegal, but it can damage the reputation of every original work you came up with.
A multibillion-dollar bitcoin lawsuit was filed against Craig Wright, the man who publicly -- yet dubiously -- claims he is Satoshi Nakamoto, the founder of bitcoin. Wright filed a motion to dismiss the lawsuit but in late December 2018, the federal court presiding over the matter rejected the motion.
Your small business benefits from having its own property, ideas and ideals. You don't have many, but the patents you do have support your business and your intention to grow it in the future.
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.