You’ve come up with a new and innovative idea for a product, or you’ve started a new business venture. You have invested time in your branding, particularly your market positioning and the presentation of your business. You are keen to get going, establish a known brand identity and see where this project will take you.
Then you discover that somebody is doing exactly the same thing; they have copied your idea and likely the name as well.
With any business venture or creative project, you need to have some awareness of your intellectual property rights. Intellectual property exists in creations of the mind, such as inventions, designs, artistic works, images and brand names. On a very basic level, intellectual property rights confer protection to some of these ideas, although often you need to take positive action to secure that protection.
There are some steps to take before you initiate any creative project or business venture. You must ensure that you procure, protect (and enforce) relevant intellectual property rights to guard your brand, whether you are a business, a partnership, an institution or an individual.
Our infographic provides a quick guide to the main elements we recommend you consider throughout your brand development process. Ensuring that the right protection is in place from the outset provides some legal security for the results of your hard work in the long run and ensures that you can defend it properly should others exploit it.
In short, it is a good idea.