Signs that an IP enforcement program is needed include lost or diverted sales, customer confusion, customer complaints, misdirected mail, returns, or communications, and a decline in revenue or sales.
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The answer is any type of intellectual property (IP) can be used to start an enforcement program. The more types of IP assets that can be used, the better to stop infringers. Trademarks, copyrights, and patents are the most common IP assets to use for these programs.
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The term “intellectual property” refers to a wide variety of holdings. It can refer to a company or individual’s trade secrets, trademarks, patents, copyrights, and proprietary products. With the rise of technology, theft of intellectual property has become more rampant and widespread.
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IP due diligence is an important factor in understanding the value of a company’s intangible assets. Due diligence is often performed in connection with the preparation for sale of a business or the IP. However, perfuming IP due diligence on some periodic basis, without the expectation of any sale of assets, can help owners understand the value of their assets as well as where there may be some protection lacking, the need to expand or minimize efforts for protection.
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Intellectual property (IP) law covers patent, copyright, trademark, trade dress, trade secret, and other related intangible assets rights. IP law protects owners of those assets from improper third-party infringement of those rights for their own financial gain.
Basically, IP law involves:
• identification of assets that should be protected;
• protection through formal registration and/or internal processes;
• maintenance of the rights through proper use, filings, enforcement, and/or internal processes; and
• guarding against infringement by third parties through enforcement programs, consumer education, adequate agreements, and litigation, when necessary.
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IP lawyers provide guidance and advice related to the various types of intellectual property.
Lawyers help with identifying intellectual property, registration of rights, maintenance of the IP, strategizing on portfolios, implementing enforcement programs, and litigation.
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Intellectual property (IP) is generally intangible property resulting from some degree of creation. The various forms of IP are distinct and offer different protections under patent, copyright, trademark, trade dress, trade secret, and other related laws.
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Because trade secrets are no registered, the steps to create and protect a trade secret are those required to keep it a secret or at least confidential. These steps can include confidentiality clauses in employment agreements and independent contractor agreements, non-disclosure agreements, password protections, limiting the information on a “need to know” basis, and other safeguards that ensure a trade secret remains confidential.
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The cost of trade secrets comes from two stages: (i) the development of the trade secret and (ii) the costs to keep the trade secret a secret. There is no filing requirement unlike patents, copyrights, and trdemarks.
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A trade secret protects those business secrets not generally ascertainable to the public, by which a company can obtain an economic advantage over its competitors or customers. Specifically, trade secret protection affords protection from unfair competition through the misappropriation of the trade secret by an employee or third-party. For more information about trade secret protection see our post, What Does A Trade Secret Protect?
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