_When it comes to intellectual property, it is more than just the preservation of an idea or unique concept. The right to legally own ‘thought property’ stems into business assets that are in-essence integral to business growth and long-term viability. _
Intellectual property covers many different business areas. It can range from logos through to corporate identity. It includes services, products and processes key to your business model that will differentiate you from your competitors in the market.
When ideas are being used without permission, the original organisation that created the idea can really suffer. Given the need to have the internet for any business to survive, many businesses benefit in product placement and orders, communications and through this, low costs for the company. The audience for your services is there and easy to engage with. However, because the internet is so vast, your chances of intellectual property theft dramatically increases. There have been and will continue to be many companies out there on the Internet that have had infringements upon them without even knowing about it. What works for one business in the US could help another out in India. The scale of the problem is too vast that only legal rights can help to cull the numbers of those out to take ideas that are not of their own.
When you have an idea you believe to be of great benefit that relates specifically to the service or product you provide, there is no question that people will be out there wanting to duplicate your ideas to match your success or to help go beyond it and take you out of the market.
There are already many ways you can protect the work you have created through the use of patents, copyrights and trademarks – each one covering different areas inside the realm of intellectual property. Using these will stop competitors and anyone else on the high street or online from taking your ideas to further advance their own profits.
Intellectual protection is a must for all business sizes; even those huge important corporations have had their concepts and ideas infringed upon resulting in multi-million-dollar lawsuits. Case and point, the long dispute that has been ongoing between the Samsung and Apple corporations over technological ideas and designs. Even Facebook started off with a huge legal case against them because they infringed on Intellectual copyright in building the website.
**Business Growth Assurance **
The more common areas that are attacked are the smaller independent businesses, that form unique services and package their products with modern, relevant and more trendy ideas. It is this independent, hip, out-of-the-box approach to markets, big businesses can’t seem to smartly think of. It is, therefore, very important to protect anything and everything you have, otherwise you may be priced or pushed out of the market through slow growth or through the loss of revenue. For small businesses, early revenue loss can have devastating effects, all to the benefit of others.
**Easy Legal Practice **
the main factor putting people off of securing their intellectual property comes down to lack of education on the subject, then assumptions develop that the process is too time consuming and then become daunted by the idea of the operation to secure what is legally yours. Whilst you can’t fully protect an idea itself because of no evidence to it, you can protect how the process is implemented. The functions surrounding the idea, how it works and is used, the essence of the idea is what intellectual property is all about.