Intellectual property factors into every brand on the market. The conception of a new product, the logo representing it and the background music advertising it all require the use of a creative thought process. Therefore, there exists the opportunity to secure legal rights.
A copyright, trademark or patent can result from putting thoughts into action, and registered intellectual property (IP) protection prohibits others from unauthorized use. These “negative rights” allow legal action when others benefit financially from protected works.
Intellectual property infringement
Taking the proper steps to prevent others from using your IP positions you to bring a lawsuit against infringing parties. So, what would this look like in business practice?
Concerns could arise from various circumstances. For example, you’ll likely want to explore your legal options if another entity:
- Publishes a section of one of your written works, without giving you proper credit
- Creates a design similar to yours to represent their product line
- Builds a device with the same intended purpose as one you marketed first
IP rights could also come under fire if a former employee or previous business partner breaks their non-disclosure agreement and uses your trade secrets in direct competition to your documented vision or plan of execution.
Global protection for international development
Depending on the nature of the business, it may be best to secure international intellectual property protection. The World Intellectual Property Organization (WIPO) provides a strategic partnership between 193 member states.
Along with China, cooperating trade superpowers include Mexico, Canada, India and Japan. With agreements between WIPO members in effect, infringement disputes must be handled accordingly.