Intellectual property and small businesses aren’t two phrases you normally see together.
In fact, intellectual property security may not be something you’ve given a lot of thought to if you run a small business.
In fact, you may not even realise the intellectual property you have. The term covers things such as trade marks, patents, copyright, and design rights. It gives you, as the owner, the right to earn recognition and financial benefits from anything you create.
You see, you don’t have to be a large corporate to benefit from intellectual property.
So now you understand what IP covers, isn’t it time you put plans in place to protect it?
Protecting your Intellectual Property
If you don’t protect your IP you could lose:
- Market share
Just think how damaging that would be to the business you’ve worked so hard to establish.
Without the weight of legislation behind you, trying to go after someone else for infringement will be time-consuming, costly, and potentially ineffective.
The only way you effectively secure your IP is by working with a Chartered trade mark attorney to register your IP with the UK Intellectual Property Office (UKIPO).
How to get protection 24/7
In addition to making sure you have correctly registered your IP, you also have to be vigilant.
The UKIPO will only warn you if a UK trade mark is filed after yours, but only if it thinks it’s the same. If there is a potentially conflicting EU mark, you won’t be notified and may miss your opportunity to object.
One way of making sure your IP is safe is to use a watch service. You will then be alerted if any situation arises that could jeopardise your IP.
Here at Ward Trade Marks, we offer WardWatch®, which uses special software to monitor registers in the UK, EU, and beyond.
Taking care of your IP should be as important as life assurance, buildings insurance, and car insurance. You wouldn’t dream of not taking out one of those policies, so why gamble with your company’s reputation?
Make sure IP protection is at the top of your list of business priorities. That is the only way you can be sure of being able to prevent a bad situation before it escalates and destroys your business.