How Do Businesses Create a Successful Intellectual Property Strategy?

In England, intellectual property is an important part of any successful business strategy, particularly when it comes to protecting and growing your brand. There are many different types of intellectual property you can use to grow your brand and business. 

This article will discuss the most appropriate and frequently used types of intellectual property and how they can assist in your business’s development and growth.

What is an Intellectual Property Strategy?

An intellectual property strategy is a formal and organised method of developing and protecting your brand using intellectual property. Competitors within your area of industry will be continuously seeking to out-perform your levels of trade. 

A key component of any business is protecting your assets. Therefore, intellectual property assists in enabling you to own exclusive rights to things like trade marks and design rights. These can help you protect both your brand reputation and your products.  

These are just a few types of intellectual property that can be monopolised by your business to protect your brand. IP Protection is important for any company hoping to: 

• achieve their business objectives; and 
• protect their competitive advantage in the market. 

IP rights provide your business with an exclusive right to use your IP assets. An effective IP strategy is therefore crucial within any successful business strategy.

How Can Trade Marks Protect Your Brand? 

Trade marks can consist of:

• words; 
• logos;
• symbols;
• colours;
• slogans; or
• any combination of the above. 

You are encouraged to come up with creative with trade marks, as one of the requirements of trade mark registration is distinctiveness and uniqueness. If you have a design in mind for a trade mark you should ensure that you have created it with this requirement in mind, and check the Intellectual Property Office’s Trade Mark Register. There are also other requirements that are important such as the mark not being of a descriptive character and also that it is not offensive or misleading.

Trade marks are extremely useful tools in defining a brand and its image. For example, if you run a footwear business, you may wish to design a logo for your brand so that it is easily identifiable on products. A trade mark such as a logo not only increases your brand’s visibility but also helps to build trust among consumers. Your consumer will become more comfortable purchasing products time and time again if you own a registered trade mark.

Some famous examples of trade marks include the:

• Coca-Cola logo;
• Nike tick;
• Apple logo; and
• Mcdonald’s ‘M’ logo. 

These examples are known worldwide and have helped each company become very easily recognisable. They have also helped each business to expand into different countries. Logos and symbols are highly useful tools in your IP strategy for introducing your business into new countries as they can circumvent the language barrier. If your goal is to become a household name, trade marked logos are necessary for you to protect your business. If you trade mark your logos at an early stage, you can effectively grow your brand and use your trade mark for international marketing purposes.

How Can Design Rights Protect Your Products? 

If you are a product-based business, and design your own products, registering your design rights is highly advisable. This way, you can protect your products against competitors who may seek to copy you. Design rights protect the visual appearance of a product, either in part of in full. You can choose how much of the product design you protect, as the product may not require total protection. 

The benefit of registering your design rights with the Intellectual Property Office is particularly strong when your product design is synonymous with your brand. For example, Nike includes their ‘tick’ in all footwear designs. It is therefore vital that they protect both, as they act in tandem to create strong branding for the business. 

Design rights can perform an important function in brand development and trust among consumers as they will trust the design of the product and purchase again. You will of course need to be able to meet all the requirements for registration. To successfully register your design, it must be:

• new to the public;
• unique; and
• not solely dictated by technical function. 

Why is it Important to Utilise Intellectual Property Protections? 

If you are considering using intellectual property as part of your business strategy, you should seek legal advice on what type is most appropriate for your business. Certain types of intellectual property will only be appropriate for particular types of businesses. Therefore, you should always check with a professional to save yourself time and money on potentially unsuccessful applications.

For example, patent protection is exclusively for new inventions, so a footwear business would not usually seek to register this type of intellectual property. Trade marks are a good example of a type of intellectual property that is usually applicable to most businesses, however, the applications are not always straightforward and lots of common mistakes can be avoided by asking a legal professional for assistance.

Key Takeaways

An intellectual property strategy refers to a business using intellectual property to protect and grow their brand and reputation. Different types of intellectual property are available. Therefore, you should always ensure you choose the right type of application that will suit your business and the product or service you provide.

Trade marks such as logos and symbols are useful as brand identifiers and can build a strong international brand image. A trade mark must be distinctive, and you can use trade marks as a marketing tool to set yourself apart from competitors in the same industry.

Design rights are used to protect the visual appearance of products. These are particularly useful when your product design overlaps with your logo or brand image. This is because they will strengthen your products and also ensure competitors cannot copy your designs. Design rights will grant you exclusivity over the design, and subsequently legal rights against any other business that attempts to copy you.

If you need help or advice around intellectual property applications, our experienced intellectual property lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 0808 196 8584 or visit our membership page.

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