Much of the value created by businesses throughout the world falls in the realm of the incorporeal: ideas, concepts, customer good will, and the like. For example, the concept behind the laser, the screen displays of the BREAKOUT video game, and the consumer loyalty accruing to KLEENEX tissues, all are valuable assets worth protecting. This article seeks to inform you about the means to protect your valuable intellectual property rights, but THIS ARTICLE IS NOT SPECIFIC LEGAL ADVICE ON ISSUES FACED BY YOU AND/OR YOUR BUSINESS.

• Patents
• Trademarks
• Copyrights
• Trade Secrets

Conclusion

Almost all, if not all, businesses employ trademarks -- therefore, this may be the first area of intellectual property you should think seriously about. Setting up mechanisms to keep your trade secrets as secrets should also be explored at an early opportunity. Copyrights are most significant in the computer software and art industries. However, your own advertising and technical writing is also protected by copyright, and you may benefit from registering those copyrights. Patents are often the best and most lucrative form of protection for inventive concepts, but are expensive to acquire.

No matter what your business, you should keep a diary or notebook in which you record significant business information, such as first use of a new trademark, attendance at trade shows (listing what was shown), notes on concepts that may turn out to be patentable, and related information. Many people use their appointment calendars for non-invention information. Laboratory notebooks are vital for those of inventive bent, and pages with important material should be reviewed by two people capable of understanding it, who then sign and date the material as having been reviewed and understood. Lack of such resources can result in having to sort through hundreds of documents for needed information, substituting a guess for accurate information, or, in the worst case, loss of rights due to inability to corroborate vital information.

Often, business transactions related to intellectual property are essential for the profitability and/or commercialization of the intellectual property. Proper documentation and well-drafted agreements are essential so that the intellectual property can be commercialized to its fullest extent.