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The importance of protecting intellectual property

On Behalf of | Oct 22, 2020 | Business Litigation

Many large companies and intermediate-sized businesses in Ohio own certain intellectual property that they need to protect. The same is true for many individuals who have developed new products or have software or literary compositions of their own that they have copyrighted. Businesses tend to be more focused on trademarks, but trade secrets can be important as well. This is especially important for franchise restaurants that use carefully crafted recipes for their cuisine. It is vital for all companies with intellectual property to protect those assets, and it often takes experienced legal professionals to ensure that no infringement is occurring among competitors.

This has become an exploding legal issue in the country as companies are developing proprietary software that can easily be mimicked. The number of intellectual properties within the U.S is growing exponentially, and the sky is the limit in the foreseeable future as people move to an even more ingrained digital age.

Examples of intellectual property assets all fall within certain categories for the most part. Those categories include:

• Patents
• Copyrights
• Trademarks
• Franchises
• Trade secrets

Intellectual property concerns in the contemporary economy have grown significantly for all businesses, and applications of those technologies can be complicated issues when infringement is occurring. Even borderline use of proprietary property can occur within national boundaries and go undetected. These unauthorized uses of company property might only be settled through litigation by experienced business law legal professionals who understand how to identify the nuances in covert use of any company IP asset.

It’s important to never leave your company’s intellectual property unprotected or think that even a small company does not need IP protection. Smart business managers may want to assess all of their intellectual property for registration protection. If business owners have questions about protecting their properties, they may want to ask a business law attorney.