How startups can protect valuable intellectual property

Intellectual property is at the very core of a business’s success. Accordingly, startups in New York City must make every attempt at protecting valuable intellectual property to ensure their businesses have the ability to thrive. Failure to do so could lead to competitors taking advantage of lucrative concepts, and here at Cox Padmore Skolnik & Shakarchy, we’ve seen firsthand the type of damage that can result from unsecured intellectual property.

Fortunately, there are methods a business owner can take to ensure vital assets remain protected. Inc. offers a few useful tips to entrepreneurs to this end, such as the creation of non-disclosure agreements. Securing intellectual property via contracts should be a part of a long-term patent strategy, which can inform decisions on what concepts and information require protection.

When it comes to actually filing patent applications, quicker is always better. Receiving a patent is an extended process that can take up to five years, and patent filers will have a year’s time to actually complete their application. That way a patent filer can rest assured of a place in line over other businesses going for the same customer-base. If a business has competition outside of the United States, it may be necessary to implement an international patent to make certain that coverage remains comprehensive.

Having the right sort of knowledge is also key to the process. For instance, a business owner should be aware of the difference between types of protections to ensure intellectual property is covered under the appropriate designation. This entails knowing the difference between patents, trademarks and copyrights. By visiting us online, you can find more information on the proper methods for protecting intellectual property.

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