Intellectual property (IP) rights are the most valuable assets you have for your business in today’s market which over 80% featuring globally across the internet. One tricky factor is if your business is solely dependent on the Internet, then you are at greater risk.
Here we look at the case for online casinos. The most successful industry on the worldwide web. It is at the forefront for start-up businesses because there is so much capital out there to make your business become a real success. But if there are so many online and all being successful, does your casino need to have IP?
Why it is very important to protect your online casino intellectual property rights?
Even though the online market is awash with casinos, you are still in a competitive environment that will let you flourish if you can get the customer numbers in. if you have a winning brand in the UK and a company uses the same thing out in New Zealand, is this still okay? Logic would dictate no and that is the right answer, even if both markets were completely separate, even if it had been copying your business model or product for years, it just isn’t right that their success is off the back of your Intellectual Property.
• set your unique business idea apart from all your market competitors
• form an essential and intrinsic part of your business branding
• have recorded evidence of revenue streaming if sold or later licensed
• provide customers with a better alternative. Something new and bold
• helps you to secure loans if required to expand your online casino into new social media platforms
You may find it surprising just how many features of your business and areas can be protected from others. You have your business name and logo. You have the designs of the website, the unique software inventions and then you have the works of creative effort or the branded trademarks that distinguish your online casino business. These can all be those different types of Intellectual Property.
• You can get patent protection for your online casino brand
• You can set up copyright for your business
• Get protection on all designs that define the look of your online casino
There are some IP rights which are safeguarded automatically by the IP law. There are also other various types of trademark law that can secure your online casino business.
Once you have covered all the areas of your casino with IP protection, you can then go about looking at these options.
• protect your online casino against external infringement done by others and ultimately, when it comes to prosecution in the courts, you have your sole right to use, sell, make and even transcend the casino to other mediums.
• Gain full control over others that use, steal, infringe without your permission.
• If you license the product or ‘idea’ you can earn money and profit.
• You can fully exploit the online casino market by having associations with online affiliations to sell your casino for you.
• Do as the Instagram creators did and sell the business for one billion!