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Protecting business ideas from others

On Behalf of | May 20, 2015 | Intellectual Property

Entrepreneurs in California may benefit from learning more about the different strategies someone can employ to protect an original and unique business idea from being used by another party. In order to sustain profitability long-term, new entrepreneurs may need to understand more about how to protect their brand. People starting new businesses also need to avoid infringing on the trademarks owned by other parties. Trademark disputes often arise when two companies share a close similarity in their brands, designs or services.

Entrepreneurs are advised to put the time, effort and capital into researching the brand as well as the means to protect the brand from infringement. Business owners who decline to exercise legal options for safeguarding intellectual property may be forced into a settlement or changing the brand as their only recourse for protecting future earnings. A sudden change in a name or logo can be catastrophic to a budding enterprise.

Businesses in fast-paced industries, particularly tech startups, may struggle with the lengthy process involved with protecting intellectual property. Often times, the patent process may cost thousands of dollars and take years to complete. When the innovations and technologies utilized by competitors change in quick fashion, worrying about obtaining patent protection may seem futile to some entrepreneurs. However, there are several alternatives available for safeguarding intangible assets, and the cost of not acquiring adequate protection may be far more detrimental than any other outcome.

Entrepreneurs with a new business idea or invention typically benefit from confiding in legal counsel. Lawyers may be able to help entrepreneurs gather and prepare the required documentation for obtaining the appropriate patents for their intellectual property. If trademark infringement has already occurred, legal counsel may be able to help entrepreneurs explore the different options for recourse, including filing a complaint and seeking restitution for damages.