Intellectual Property Rights
The first question people usually ask about Intellectual Property is: what is it?
Broadly speaking it is property that doesn’t have a physical presence which has been developed as the result of creative thinking.
Intellectual Property needs to be something unique that you physically create. So a good idea alone would not be classed as Intellectual Property but if you were to draw up plans or make a prototype for that idea then it may become so.
The name of your product, your brand name, something you invent, unique things that you write or produce – all of these are Intellectual Property.
The second question that is often then asked, how does this affect my business?
Generally speaking, if you own some Intellectual Property, you need to protect your rights – whatever appropriate steps are to be taken – or you might be considered to have ‘abandoned’ them.
For example, if you have built a business or are building a business you want to protect its name so that no one else can use it. Or, if you have an invention that forms the basis of your business and it is not protected if someone steals it then that would effectively spell the end of your business.
There are various ways to protect Intellectual Property Rights, including copyright, patents and trademarks and various remedy’s available; you might be entitled to compensation for lost business or be able to take out an injunction to name a few.
Our specialists can advise you on the best method of protection for your Intellectual Property and how to defend your rights if required, working with you to protect your ideas and your business.