It Pays to Protect Intangible Assets
The transition from an industry-based economy to a knowledge economy has brought with it countless challenges that are making themselves more and more known for businesses as we move further into the 21st century. A modern company's most valuable assets are no longer its machinery nor its massive installations/factories; they are now more likely to be its innovations, its software and its patents. In other words, the company's intangible assets; the intellectual property (IP).
Time and capital invested in research and development can constitute nothing but a waste if a firm does not match this with sufficient investment in IP protection.
What IP can I Protect?
There are several areas that need to be looked over to determine what IP you can and should protect. Think about your intangible as well as tangible assets that competitors or fraudsters may try to steal, copy or otherwise take advantage of.
Naturally, one of the first assets a company should look to protect is its product or products. Companies can apply for both a utility patent and a design patent which grants them the right to choose who can use, make or sell the patented product for two whole decades.
Besides its products, firms can also trademark its brand name and logo, which will facilitate enforcement in the case of an IP infringement on either of them.
Companies can even prevent its so-called trade dress from being copied. This refers to the appearance of either your product, its packaging or an especially recognisable interior décor.
And don’t forget
Other IP such as a firm's marketing assets - jingles, slogans or such - or the content on the company website can also b protected in different ways.
IP Protection services
Yellow Brand Protection offer IP Protection services to help businesses safeguard their brands and reputations. If you would like to know the current status of one of your key brands in terms of counterfeit and brand abuse online, request a free brand protection status report from us today.