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IP Theft. 9 ways to prevent

Date: 02/28/2018

Original ideas and know-how bring the company to a new level, able to compete on the marketplace with new ideas. But what can bring the failure of your business faster than infringement of your idea?
Probably that is one of the greatest fears of an entrepreneur nowadays.

Together with Cosmovici Intellectual Property we have listed 9 steps to make it easier for you.

Get to know the best IP practices for your field
Patents are a way to protect intellectual property, as well as a legal way to force companies to pay when they use the patented idea. It is important to understand in detail the activity of the patent in order to be able to hold absolute control. When you know how it works, you can make it profit, not just to protect your rights.

Think ahead
There is no time to waste when we tackle the topic about registering your patent.
It does not depend on what IP strategy you are using, just to keep in mind that this strategy must be well thought out and planned in time. It is preferable that the patent to be registered from the company's early days.

Get the right IP person for IP departement
An expert in IT support makes the company stay confident on it's own feet. Hire the right IT support leads to a good administration of intellectual property that can lead to overall company’s prosperity.

Do-it-yourself option
It is well known that patenting an idea is not a simple process, but a procedure that can take up to a few months. But patent experts say it deserves to make this effort, as it provides absolute control over the idea. In other cases, the Certified Procedure clearly determines if it is 100% originala and helps to avoid patent infringement.

Use NDAs
Non-disclosure agreement is the safest way to make employees keep company secrets. For an employee, he is willing to sign this agreement, as he has access to corporate secrets and data that give him wide scope for the company's activity.

Get a Provisional Patent
If the full patent is not available at this time, you may benefit from the option of a provisional patent, which will still provide the security to get started. But it is important to know that it expires in a year, and after it can not be extended anymore.

Trademark your Name
The company's name represents the it's activity and idea. The trademark is a way to prevent other companies from using your reputation by comany's name. It's necessar to have the name patented, as it is a clear proof to the court who owns the mark.

Do a Research
Before revealing your ideas to anyone, make sure that they haven’t been involved in any disputes in the past. A quick internet search should show if the person has a good reputation or if they have a doubtful history.

Create a Paper Tracking
A company's activity is very unpredictable, so you can always end up at court defending your rights. This is a reason why as much evidence as possible can help you stand your position. Creating a tracking log with discussions where your intellectual property was revealed is a guarantee that you can always prove the truth of your position.

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