Potential Value - Part 2
What are a few instances of intellectual property that can benefit my company?
The term "intellectual property" refers to mind-made creations employed in trade, including inventions, literary and creative works, symbols, names, and designs. Following are some instances of how intellectual property can benefit your company:
1. Patents: These are exclusive privileges given to innovators in exchange for their creations. By restricting rivals from stealing or utilizing the patented technology, patents can significantly increase the value of a company while protecting the functional components of a product or process. This can provide you with a freedom to operate and some peace of mind.
2. Trademarks: These are signs, names, or designs that a corporation uses to identify and set its goods and services apart from those of rivals. A trademark can increase a company's worth by fostering consumer brand identification and loyalty.
3. Copyrights: These are exclusive privileges given to creators of original works, including music, software, and books. By preventing unauthorized copying and dissemination of a company's creative works, copyrights can increase a company's worth.
4. Trade secrets: These are private details (i.e., know-how, formulas, and more) that give a company a competitive edge over rivals and are neither widely known nor readily ascertainable by outsiders. A company might benefit from trade secrets by keeping its confidential information safe from rivals.
Overall, intellectual property can be an important asset for a company, and safeguarding it via patents, trademarks, copyrights, and trade secrets can increase its value and competitiveness in the market.
To learn more about how your business can actually capture this value? In the following remaining 2-Part mini-blog series, Rueppell Law provides suggestions of what to consider — STAY TUNED!
Contact the professionals at Rueppell Law (Connect@Rueppell-Law.com) today and let us show you how easy it can be to get the customized IP solution that will maximize the value of your business.
