As an entrepreneurial law attorney working with emerging and mid-market technology and SaaS businesses I am often involved in intellectual property strategies with my clients. I am not a patent attorney (although my firm has patent attorneys within our network of partners that we routinely work with). I do, however, live and breath technology licensing and my firm handles copyright and trademark matters for our business law clients.There is a good article on today's New York Times on-line edition entitled Small Business Guide to Intellectual Property. The article addresses some high level questions often asked by owners and officers of emerging companies.
In particular, the article addresses common IP fallacies held by emerging business owners. Here are five fallacies:
1. For small-business owners, it’s not worth the time or effort to secure intellectual property rights.
2. Once I get a trademark, my brand is safe.
3. Having a patent gives me the right to produce something.
4. If I have a patent or trademark in the United States, I don’t need to worry about the rest of the world.
5. People who collect patents but don’t actually make anything are “patent trolls,” parasites who can make money only by filing lawsuits against real businesses.
2. Once I get a trademark, my brand is safe.
3. Having a patent gives me the right to produce something.
4. If I have a patent or trademark in the United States, I don’t need to worry about the rest of the world.
5. People who collect patents but don’t actually make anything are “patent trolls,” parasites who can make money only by filing lawsuits against real businesses.
If you believe any of the above statements, take a look at the article. Having a solid IP strategy is highly important for any business - whether a professional service business that needs to protect its brand identity or a technology company seeking to protect its proprietary methods.
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Alerding Castor Hewitt, LLP is an Indianapolis law firm focusing on business law, information technology law (including SaaS law and legal technology consulting), private equity consulting, probate and business litigation.
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