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Florida trademark attorneyYou might think “intellectual property” is limited to inventions that a business has patented. But the definition is actually much broader, including such things as:

  • Your website domain name.
  • Copyrighted works of writing, art, or music.
  • Trademarked brand names and logos.
  • The trade dress of your business, which includes unique visual aspects of your website as well as products, packaging, and even building architecture.
  • Trade secrets, including proprietary processes and methods, algorithms, patterns, client lists … any information you would closely guard to keep it out of the hands of competitors.

Here are four questions every business owner should ask and answer with regard to intellectual property:

Do you know the value of your intellectual property? If you really think about the scope of your business, you probably have more intellectual property than you first thought. List your most important IP assets, and ask yourself two questions. First, do I have sufficient protections in place, given the value of this IP? Second, how much am I willing to spend to defend this IP? If a competitor should infringe on your intellectual property rights, you will want to react quickly to avoid potential losses and to collect compensation for any financial damage that may have already occurred. At the same time, you need to take a cost-effective approach to protecting your IP, considering the financial investment and future revenue at stake.

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