Table of Contents
Intellectual property protection is crucial for startups. You protect your image, innovations and competitive advantage by safeguarding these core parts of your brand and business model. The startup space is highly competitive. For this reason, you must protect your intellectual property to prevent unauthorised use by competitors and maintain your developing market position. This article will break down the different types of intellectual property. It will also explain how startup founders can protect their intellectual property, safeguarding their brand and business reputation.
Types of Intellectual Property
The following table outlines the different types of intellectual property.
| Type of Intellectual Property | Explanation |
| Trade Marks | Trade marks are vital components of your branding. They include aspects such as your startup’s logo, slogan and brand name. |
| Patents | Patents protect your startup’s inventions and unique innovations. Patents could protect a product (such as a machine or software) or a process (such as a unique business process your startup develops and uses). If you patent an invention, for example, a patent would enable you to protect the invention’s manufacture, use and sale. |
| Copyright | Copyright covers original works such as software, literature and art. If your startup owns copyright, it has exclusive control over the use of that work. |
| Trade Secrets | Trade secrets are commercially sensitive information that is not known publicly. They can include confidential business information and proprietary business processes. |
How to Protect Your Intellectual Property
As a founder, protecting your trade marks should be a priority. You will protect each type of intellectual property in different ways. For example, you protect your trade marks by registering them with the Intellectual Property Office (IPO). You should do this as soon as you can.
To register your trade marks, you should:
- conduct an initial search online to ensure no other business or organisation is using the trade mark you intend to register;
- search the IPO’s trade mark database to determine whether the trade mark is available;
- decide which classifications you will register your trade mark’s under; and
- apply to register your trade marks with the IPO.
Like trade marks, you must also apply for patent protection through the IPO. You should first identify whether any products or processes your startup develops would qualify for patent protection. As your early-stage business evolves, you will likely create new products and processes. Therefore, you should assess, on an ongoing basis, whether further patent protection is necessary.
Moreover, you should ensure that your contracts with other parties, such as co-founders, employees and suppliers, sufficiently protect your trade secrets. You can also use non-disclosure agreements (NDAs). A solicitor can draft these documents to ensure they are legally sound and comprehensive.
Continue reading this article below the formCall 0808 196 8584 for urgent assistance.
Otherwise, complete this form and we will contact you within one business day.
The Importance of Seeking Legal Advice
Seeking legal advice is an excellent way to ensure comprehensive intellectual property protection. An experienced lawyer can:
- guide you through registering your trade marks and patents;
- monitor and address potential infringement of your startup’s rights; and
- ensure your contracts sufficiently protect your trade secrets.
It is also essential to seek advice if you suspect a breach of your startup’s intellectual property rights. For example, by registering a trade mark, you assert that you are the legal owner of it. Registration does not prevent unauthorised use but allows you to take action and seek redress if an unauthorised party uses it without your permission.
LegalVision’s Startup Manual is essential reading material for any startup founder looking to launch and grow a successful startup.
Intellectual property disputes can be complex, but a lawyer can take you through the process and ensure you defend your startup’s intellectual property effectively.
Key Takeaways
As a startup founder, intellectual property protection should be a priority. It is particularly crucial in the highly competitive startup industry, where image and innovation are crucial for success. Sufficient protection safeguards your brand image from dilution and deters unauthorised use. Intellectual property includes:
- trade marks;
- patents;
- copyright; and
- trade secrets.
To protect your intellectual property, you should seek trade mark protection. You can apply to register your trade marks with the IPO. You will also apply for patent protection with the IPO. To protect other rights, such as copyright and trade secrets, you should undertake continuous monitoring, draft robust contracts, and use NDAs, if necessary.
It can be vital to seek legal advice to navigate the complexities of intellectual property protection. If you are a founder who would like advice about protecting your startup’s intellectual property, LegalVision’s experienced startup 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.
We appreciate your feedback – your submission has been successfully received.
