An individual who develops business idea or new product, the most pressing issue is whether to legally protect idea or product in some way. Intellectual property involves legally protecting product ideas, brands and company names with the federal government. It also involves that right to hire an intellectual property lawyer in Dallas when someone infringes on the protected new product or business idea.
Understand the Types of Intellectual Property
The government has four ways to protect intellectual property: patent, trademark, trade secrets and copyright. A patent protects an invention, design or discovery. A trademark protects a symbol, phrase or word that distinguishes a business from another business. A trade secret protects a device, formula or process used by a particular business. A copyright protects the original work such as music and film. The type of intellectual property protection needed depends on what’s being protect such as a secret, invention or movie.
Protect Intellectual Property as Soon as Possible
It’s important to start taking the required steps to implement a business idea or product ideas such as securing the federal and/or licenses. Also, obtain help from an intellectual property attorney regarding whether anyone has exclusive rights to the product or business idea. This means the individual must have research done prior to requests protection via copyright or trademark.
Conduct a Conflict Search Regarding the Business Idea or Product Idea
A conflict search consists of trying to determine if another business or an individual owns the intellectual property rights to the product or business idea. Part of the conflict search is done via the U.S. Patent & Trademark Office (USPTO) search database. The database will show which individuals or companies own the name, trademark or copyright to a business idea or product ideas. In addition, another search should be conducted on the state level. Dallas has a registry of trademark and other intellectual property information that will assist in determining whether the product idea or business idea is owned already.
Common Mistakes Most Business People with Regard to Intellectual Property
Most business owners don’t move forward regarding protecting intellectual property because of the startup costs. When starting a company, sometimes protecting intellectual property is thought of as “non-essential.” The reason it’s considered non-essential is it isn’t legally required to start a business. Another common reason why business owners don’t obtain intellectual property protection is they aren’t certain the product or business will take off. So, they believe they may not need it. Also, they don’t anticipate anyone trying to copy their product or business idea.
Steps to Protecting Intellectual Property in Dallas
A business owner must ensure there’s a member agreement in place that retains intellectual property developed by any shareholder or member. Also, register the intellectual property with the USPTO and state’s trademark registry. Many business owners may believe their product or idea want to be used without their permission, but it might. Therefore, it is important to speak with an intellectual property lawyer located in Dallas.