As an entrepreneur, I completely get how important ideas are. Whether it’s inventions, designs, and symbols, images, or names, creativity is what drives financial benefits across sectors – including mine.
Also, I also understand the need to protect ideas while making sure the creators and the rest of the world benefit from them.
TODAY is World Intellectual Property Day and I wanted to take the opportunity to talk a little about how you as an entrepreneur can protect your Intellectual Property.
Implement separation of duties (SoD)
Compartmentalize teams so none have complete access to your end product. This means that in order for it to be stolen and used, all teams will need to unite and share their knowledge to make the product work.
Keep things hush-hush
They’re called trade secrets for a reason so always limit knowledge about your intellectual property. Make it on a need-to-know basis so that no one can steal or replicate it.
DON’T file patents
This may sound counter intuitive but it’s not. Think about it: the moment you patent your property, its details are publicly disclosed. Patents also need to be maintained, failing which you lose your right of protection.
and if you do…
Standardize them
Standardization ensures that others can’t replicate your idea and if they do, they must adhere to a set of strict guidelines in order to recreate your intellectual property.
These tips are just a few among many that you can follow BUT they can do a lot to protect your intellectual property and encourage other creative minds to continue creating and innovating.
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