How can you protect your property against intellectual theft?

On Behalf of | Jan 12, 2022 | Intellectual Property

Most business owners in Texas know how to protect the physical aspects of their business against theft. Whether it’s a security system, private guards or a combination of solutions, you probably have your property covered. However, one area that many entrepreneurs tend to neglect is intellectual property. Your business most likely has that, too. Here is how you can protect these intangible assets.

What is intellectual property?

Intellectual property is essentially a workable idea that you create for your business. This includes names, designs, and logos, many of which you incorporate as part of branding efforts, software and apps, video and sound recordings, books, databases, designs, and tangible inventions as well as formulas, patterns, techniques or processes that are unknown outside your company. Even your website is an intangible property and should have some protection. Intangible assets generally fall into four broad categories:

• Trademarks
• Copyrights
• Patents
• Trade secrets

Generally, intellectual properties that fall into the first two categories are easy to protect. Register trademarks with the United States Patent and Trademark Office as registered trademarks make it easier to challenge anyone who infringes on your rights. You can protect your original works through applications to the U.S. Copyright Office.

Protecting other types of intellectual property

Patents take a little more work to protect. Before submitting your application, you should search the database at the USPTO to ensure that your idea has novel applications and features. This will help you determine whether you can protect your ideas. Trade secrets, for example, should be included in your business plan.

Even if you have taken the steps to protect your intellectual property, you may still experience a breach. Minimize the possibility by frequently monitoring the use of your concepts. You may have to take legal action to protect your property in some cases.