By: Katherine (Tori) Lutz
Every business owner, whether running a small tech startup or a mainstream publishing company, knows that business management is no small task. Even having successfully navigated the funding and registering phases, a myriad of other issues need to be dealt with, i.e. insurance, payroll, marketing, and a growth plan.
Something all too easy to overlook among other pressing tasks is intellectual property (IP) protection. Here’s what IP law is, how it applies to your business, and why it’s a crucial aspect of maintaining a successful enterprise.
TYPES OF IP LAW
You may have come across the term intellectual property, or IP for short, before. Intellectual property is a way of enforcing ownership of intangible things like ideas and inventions.
IP law has several subsets: patents, trademarks, trade secrets, and copyrights. Many people use these interchangeably, and thus incorrectly.
Patents are formal protections of inventions, and grant temporary monopolies in the market for new inventions. If you’re looking to patent your idea, you must first get from the idea stage to the invention stage, a key process for any entrepreneur looking to develop a product or service.
Read more >> https://www.thenationalherald.com/258496/the-importance-of-intellectual-property-on-your-business/
