All Marvel fans out there, have you all watched the latest Shang Chi Movie? The movie was based on 10 Rings which acted as a shield to protect the clan. Going by the concept, we have given 10 rings of IPR that will act as a shield to protect IPR. Every time we talk about the protection it is all about how IPR will protect the business but this time it will be about what a business should do to protect its IPR.
1. Know your IP Needs
Every business requires a set of Intellectual Property Rights in their day-to-day affairs. Talking about IPR, there are four basic IPR which can be handy for the business. They are Trademark, Patents, Copyrights, and Designs.
- Trademarks: Trademark includes a brand name, brand logo, brand colors, taglines, phrases, and combination either provided the said trademark is unique and distinctive.
- Patents: Patents are novel inventions that involve unique intensive steps which has industrial application. The Patent Rights are valid for 20 years requiring yearly renewals.
- Copyrights: Copyright is an exclusive right given to the owners of the work. Copyright is a voluntary right conferred upon an author or owner of the work once the work is created. Copyright protection subsists in the work from the moment the work is created and is valid up to lifetime of the owner plus 60 years.
- Designs: Design can be defined as feature of shape, configuration, patterns, ornaments or composition of lines or colors applied to any article, by industrial process or means- whether manual, mechanical or chemical- missed or individual and a finished article which is appealable and solely judged by the eyes. It is anything but does not include any trademark, property mark or artistic work.
2. Get Help from IP Experts:
IPR registration services require expert opinion and guidance to be successfully completed. The process of registration may look simple, but involves lot of practicality. Easy said than done, that’s why we recommend you to hire IPR professionals who can get it done easily.
3. Get your brand name registered:
First and most important of all, get your trademark protected. Your business name is your identity and that has to be protected. Own what is yours and get your IPR protected.
4. Keep it confidential before you register:
Happens to be the most difficult things for us right, to keep things within ourselves is not that easy. but, when it comes to IPR, one must make sure that they don’t spill out the beans. We, humans, intend to discuss things with our near ones but alert you right here not to do so. once your work is known to all, you cannot get protection for it
5. Avoid Joint Ownership
It is suggested to avoid joint ownership in registration of trademarks, copyrights, designs, or patents. As much as it may seem convenient and cost-effective, it has its own issues which can be problematic in future. Better to avoid now than regret later, it is better to keep your ownership secured with yourself.
6. Quicker the Better
Delay in decisions can cause grave impact on your IPR. There are chances of design piracy, idea stealing, or even using your brand name for the dam category of goods. If some third party applies before you do, then you will have to start from scratch. So if you invention is ready to an extent, file provisional specification. If your product name is ready but your product isn’t, don’t wait for your product, apply for trademark registration.
7. Have a Strong NDA:
Be it your attorney, consultant or employee, make sure you have your NDA signed. You would think trust is the basis of all business dealings, but no, as much as it sounds correct, let’s be practical, we don’t know what destiny has in our way. Stay protected and let NDA play its game.
8. Get Exact match domain:
There are instances when you brand name will not match your domain name and that will create issues in future. The best way to secure your IPR per se trademark would be to get exact domain name for it.
9. Be realistic
In this real-time world, it is essential that one is realistic in its approach. Don’t make false promises or give false signals as to services done or goods manufactured. State what your business does or what you are planning to do in future.
10. Use your IP for Commercialization.
Investments call for returns and if your investment doesn’t give returns then it can turn the tables against your IPR. Make sure you put your trademark, patent, designs, or copyrights to use.
To sum up, have these in mind so that your business can protect your IPR.