This is a guest post from Philip Partington at JMW Solicitors.
There is a lot to think about when starting a business, and intellectual property (IP) law is rarely at the forefront of these considerations. However, part of the process of setting up your company will be to create certain elements of intellectual property, and by factoring in your IP from the start, you can make sure it is properly protected.
IP includes a number of brand elements like your company’s name and logo, which form part of your relationships with customers. The term also refers to ideas and innovations that might represent your business’ competitive advantage. As such, it is important to consider the IP implications of any decisions you make during the early stages of your business’ lifespan.
The UK has three main categories of protection for IP assets: trade marks, patents and copyright, each of which secures a different type of asset. There are many assets that might qualify, so you must understand how to use intellectual property law to your advantage when building your business’ brand.
Here, the expert intellectual property solicitors at JMW break down the three primary types of IP protection and the value they can bring to a start-up company, and explain what businesses need to do to secure their assets and prevent infringement by competitors.
Trade marks
The first type of IP protection relevant to start-up businesses is trade marks. These are used to safeguard elements of a company’s brand, like its name, logo and slogan, as well as any jingles, product names, or other assets of this type.
To benefit from the exclusive right to use these assets when selling your goods or services, you must register for trade mark protection. There are a few eligibility criteria, but the most important one is that you cannot register an asset that is already owned by someone else. This is a legal requirement, and even if you are able to register the asset, this could lead to expensive and difficult disputes.
However, as a start-up, you have an opportunity that other businesses don’t. By checking the database of existing trade marks before settling on a company name or logo, you can make sure you have developed an asset that is unique to you. By securing these assets at this early stage you can also benefit from protection over the long term and avoid disputes arising in the future.
A solicitor can provide searching and clearing services to support this process. Consider working with an intellectual property expert when developing your brand identity and the relevant assets, or during phases of product design and development.
Patents
The second kind of IP safeguard is a patent, which is designed to protect new inventions, improvements on existing products, and design elements (both functional and aesthetic). As with a trade mark, you must register for a patent and an asset will not be eligible for patent-protected status if it is not unique to you, or has been available elsewhere in the past. You must include details of how the product or process works – you cannot register an idea or concept.
A patent grants the owner the exclusive right to utilise, adapt and sell the product they have invented for up to 20 years after registration. If your start-up is built around a new product or concept – or improves upon existing ones – you should register for a patent before you bring the product to market. This not only ensures that you will be eligible for registration, but will prevent competitors from quickly launching similar products to yours.
Copyright
The final category is copyright, which applies to written, musical, theatrical and artistic works, recorded music, audio and video, software, databases, and other assets. Copyright is automatic, so it doesn’t require registration, and it applies in almost the same way throughout the world.
If your business does not generate media products as its main revenue source, you may feel that this type of protection applies the least to you. However, copyright also covers assets like any photographs and written descriptions of products you create, copy you write for your website, and other assets of this type. Many businesses have assets that qualify for copyright protection that are at risk of being overlooked.
Securing your assets
Starting a new company means creating a portfolio of intangible assets that will qualify for IP protection. However, registering these assets costs money, and it can be difficult for a start-up to evaluate where the value really lies, or which assets are most at risk. This is where working with an expert intellectual property solicitor can help. They can identify the elements of your IP portfolio, develop a strategy that will allow you to manage them effectively, and support you in registering them to make sure they are fully protected.
A solicitor can also support you by monitoring for infringement once your assets are legally secured. In this way, if a competitor attempts to imitate your brand so as to steal customers or damage your reputation, you will be in a position to fight back. That way, you are in the best possible position to grow your business from a start-up to an established company in no time at all.
