Intellectual Property & Intellectual Asset Management
Establishing a new business takes passion, courage and energy. I will talk to some potential clients and some other business owners. A good business name will make customers remember you easily. By undergoing these points, I finally decided to put food truck as my business name.
When I start a business, I need to decide on a legal structure for it. Usually everyone will choose either a sole proprietorship, a partnership, a limited liability company or a corporation. We actually don’t know which choice fits everyone. The job is to overcome that how one legal structure will work and then select the one that is best and suits your needs. For many small businesses, a good choice is a sole proprietorship or, if the business is of more than one owner then partnership. So that we can generally rule out the sole proprietorship and partnerships in correct way because of lack of liability protection.
Some of the main steps to ensure that my business IP does not affect anybody’s IP are as follows. First we should identify our own IP and then we should overcome the several types of IP and the advantages of each one. After that another point is keeping the idea or IP confidential. Also start by registering the brand or idea for protection. We should also be commercialized and track our costs. Finally workout for a commercialisation strategy and beware of infringement. If we copy other IP we will definitely get in trouble in some or the other day, so I never think to trouble anyone’s IP.
In many businesses, they will be a recognizable thing or otherwise called as government licence. This is a must for each and every business. Then only people get to know about the business. Unless we have a trademark our business will never get to know to everyone. Some business directly do not have trademark but they try to get recognized by the products which they use. This is somewhat slow process but definitely gets recognized by everyone in the future. We should check that other countries are having these brands and how the annual income of this brand is. These are the ways in which we get our business recognized.
There are few rules and regulations for protecting our own trademark. One can easily copy the brand which we have but when we see the fake brand which is similar to our brand then we can give a complaint to the higher authorities. So that they take an action against the copied brand. And one of the main thing is trademark is the main another way of referring to brands. That is why we should not give any chance to copy our brand. We should give as much as protection we can give by mentioning we have only these branches and rest all are fake. In this way we can give protection to our trademark.
When our business runs in the global market, we need to think about the intellectual property (IP) protection is a must for a company or business. Such that, this protection will help the company or business to run successfully from any competitive threats. Each country has their own IP law in their own cost and complication respectively. Also we may have an idea in future to expand the business in other countries. In this case we need to research weather the product exists in that country or not. For example, if there is already a same brand in other country, it will be difficult to enter that market with the same brand. We should thoroughly go through the rules, costs and limitations before seeking international IP protection.
