Intellectual property is essential in any business if you intend on commercialising it. Crucially, for your strategy to be effective, you need to ensure that your intellectual property is strengthening your businesses. This also allows you to align yourself with the business objectives of potential licensees, buyers and investors. Here are six ways you can use intellectual property to help boost your product or design to the next level.
File Multiple Applications
Don’t limit yourself to one application. You can file multiple patent applications that address your innovation, not just your invention. If you have a big idea where there is potentially room to alter it and make it into something even bigger, then it’s best to protect yourself as far into the future as possible. You have the right to own and profit from your initial innovation, no matter what forms it will take.
Familiarise Yourself With Prior Art
Prior art allows you to find ways in which you invention is different to another. Every startup should understand how prior art works, particularly when it comes to investors asking the tricky questions. You need to dig deep and refine what makes your product different to everyone else’s.
Continue Filing PPAs
In each stage of your design, you should continue to file PPAs. For example, if you’ve designed a new tool that will help make the compulsory purchase process simpler but have just thought of an additional add-on that’ll make it better, you need to file another application. You’re simple adding another wall of intellectual property that’ll make it harder for your design to be replicated.
Include Design Patents
Your design is just as important as the innovation, and it can be protected in its own right. Copycats and infringers are so often taking advantage of an un-patented design that it’s become a vital step when it comes to intellectual property.
File Patents Internationally
Though it can become quite expensive, filing patents internationally will help protect your innovation across the globe. Chartered surveyors Manchester and beyond may be using your new measuring invention, so you need to make sure it’s not being replicated elsewhere. If you’re going into business with a licensee or partner who operates in multiple countries, then this is absolutely necessary.
Copyright is an affordable form of legal protection for those who create artistic and literary works. It covers a variety of creative outlets from music to movies. Technically, you don’t need to register your work to be protected by copyright, however, it can be required if you need to notify a platform that copyright is taking place, like Amazon or eBay. This can then be used to take copyright infringements down.