Picture the scene. You’ve spent years developing an amazing new product, the likes of which has never been seen before.
It will truly revolutionise the market and give your competitors many sleepless nights of agonising worry.
But it all depends on you shocking the world by announcing your new product at the annual trade fair. If word gets out before, it will ruin all your hard work and give your competitors a head start.
As much as 80% of business value is now made up of intangible assets such as Intellectual Property. In fact, we are in the epicentre of an IP revolution – with more start ups emerging, creating and innovating in ways only once dreamed of.
Best practice dictates that businesses need to protect their innovation – typically done by applying for patents, trademarks or designs. However, the battle to protect their most valuable asset unfortunately does not stop there.
The bad news is that thousands of UK businesses every year are involved in disputes relating to their intellectual property – and this number is rising.
The threats come from both near and far, and often when businesses least expect them. However it’s identifying all the possible risks from the get-go that keeps businesses ahead of both current and future competition.
Here’s a guide to the importance of IP and IP insurance, specifically for those who own a small business, or those looking to start a business in the near future. Continue…
As a small business owner, you’ve probably heard of the phrase “Intellectual Property”, or IP as it’s commonly referred to. But studies show that despite knowing what Intellectual Property is, many small businesses assume that protecting their Intellectual Property is only something that larger, well-known businesses need to worry about.
The fact is that IP protection is something that many start-ups and small businesses can benefit from considering early on, because without the right protection businesses could lose some of their most valuable assets.
To help you get to grips with the subject, this guide looks at some of the key intellectual property rights small business owners need to know about.
Before online shopping became the norm, fake goods were widespread but because you could see and feel the products before buying them you were able to ascertain their providence (or at least try to). This is not the case anymore. Anyone can sell on eBay or Amazon, for instance, and pass off fake goods as the real thing.
Companies selling online without a registered trade mark are therefore at a high risk of unscrupulous competitors stealing their identity to sell counterfeit products. Continue…