Even if it’s still early in your journey, the business, products, services, and assets you are building now can create significant, life-changing differences. This is the motivation that drives passionate entrepreneurs, researchers, developers, and business owners.
Whether it’s a positive impact on your own life, your business, your customers’ experiences, your partners’ efficiency, or your company’s growth, it’s crucial to hold on to this potential for success for as long as possible. Achieving this will free you from worries and provide stability.
Securing your intellectual property rights is essential, whether you’re looking to advance your career, launch an innovative business, or create a meaningful online course. This page outlines practical ways to leverage your intellectual property rights effectively.
Here is a list of steps to consider regarding intellectual property (IP) rights for your business. You might feel that these ideas are too simple or overly optimistic, especially if your business is still growing. That’s understandable, but starting with step #1 today is important, and you can work through the rest as you need them.
Focus on doing what’s right for your business (which is why #2 is early in the list). These items are worth writing on sticky notes and placing them where you can see them every day! Remember, it’s about your business and your success—no one else’s.
Know IP
The first step to anything is knowing what you are doing, understanding how the ‘game is played’, and most importantly, adapting to the rules to benefit. Flexibility and agility are key.
While luck may play a part, it’s your strategic understanding of the ‘game’ that truly increases your chances of success.
It’s not different in your business, and your IP-strategy is “just” another set of rules to use.
Understanding the power of intellectual property rights (IPRs) and the strategies to protect your assets is not just a choice, it’s a necessity in professional businesses.
Match IP
I understand that legal matters can seem tedious and overwhelming at first.
But let me assure you, you don’t need to be an expert in legal texts. You just need to know which ones to use for your current and future business goals and how to get them, with the right support.
What you also need is: You need to understand how to help your patent attorney and IP lawyers (your advisors) to give you the best quality support – so they help you protect what you need – not too much (e.g., overprotecting a product that might not be profitable) or too little (e.g., leaving a valuable idea unprotected).
Your advisors are experts in the law but not always business experts. They may not always understand what you need. This is where your role becomes crucial. It’s your job to guide them…
That’s all.
Get ip
Every business has the power to choose about 4-6 types of IPRs to protect their businesses. There is a list of 8-10 (depending on which ones you include in the list).
Here’s the kicker: Only those who create unique technical solutions or products that function in a specific way, need patents on top of those.
So if the complexity or the price point of patents scares you from learning about IPRs – please know that you can do a lot – without ever needing a patent.
Pay IP
Not all IPRs are expensive, but some come with requirements.
Some are free, and some are “just worth it.”
IPRs can be the game-changer that secures the funding you need to bring your innovation to life. And in the event of a business strategy that’s not panning out, they can be the safety net that prevents bankruptcy and gives you a chance to regroup.
When it comes to your ideas, remember that secrecy is your most powerful tool. If you’re still in the planning stages, the best advice I can offer is to keep your ideas under wraps until you’ve figured out the best way to protect them.
Own IP
Strategically selecting the right IPRs for your business model and strategy is a powerful way to demonstrate your ownership to your competition, your expertise to your customers, and your seriousness to potential partners. It’s a clear sign that you value your investments and believe in what you’re building, underlining the importance of your decisions.
I am not only talking about patents, but also your brand name (trademarks), your packaging design (physical or digital), and your tone of voice and content (copyright).
use ip
You may think that “using IP” means “enforcing IP”?!
It’s true that enforcing IPRs is a significant aspect of their use. However, it’s a common misconception that IPRs are only worth the investment if you can afford to enforce them. Reiterating the value of IPRs can help you feel reassured and confident in their importance.
Strategically using IPRs can signal power, set boundaries, and enhance professionalism. This strategic use can provide a significant boost to your brand and partnering efforts, making you feel more in control of your business’s direction.
sell IP
Intellectual property, like any other property, offers you the flexibility to keep, or sell it as you see fit.
It’s a common practice for IPRs to be sold or transferred to partners during mergers or when acquiring startups, providing a sense of security in the business world.
license IP
If you can keep it, you can also “rent” it out to someone. When it comes to IP this is calles licensing though.
When you choose to license your intellectual property, you open the door to potential benefits. You can be the licensor, earning royalties from others using your rights, or the licensee, gaining access to IPRs that can enhance your business.
check ip
Everything you can do with your IP, your competitors (also thouse you do not know) can do with theirs.
As a business owner you are expected required by law to drive your business in a lawful way, which includes respecting national and international laws and this includes the intellectual property rights laws, competition law, marketing acts, contract law, and the rights, that these laws give you – or your competition.
You need to check yourself, there is no service. If you infringe on someone else’s rights, it’s your fault – and nobody else can be blaned.
Navigating patents and intellectual property (IP) rights can be challenging. I empower you with the knowledge and tools to seize growth opportunities, attract valuable partnerships and funding, and protect your assets from revenue loss. Together, we can position your investments as secure choices for you and your future partners. Let’s work hand in hand to unlock your full potential.
Partner with me to identify the right intellectual property rights opportunities (and risks) for your business.
It can also be motivating to connect with others who understand the challenges and overwhelm that can arise at the beginning of this journey. You can discuss questions and concerns you may not think of alone.
By aligning these protections with your business strategy and vision, you can effectively prevent and address piracy and plagiarism (rights infringement) before negatively affecting your sales and revenue.
Don’t know where to start – or which questions to ask (first)? Let me help you figure things out…
Then, if you have not already taken advantage of it, you can book a “one-off” free 15-minute call with me to get you started. There are no strings attached.vOr book an entire sparring session through the booking site if you have already spent your 15 free minutes with me.
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If you have questions to my offers or services, please feel free to reach out by clicking the below button. It will open a new window in your e-mail service application with my e-mail.
If you are selling your services to me, you are likely wasting your time. I delete such cold outreach, because I focus on helping my potential and actual customers. Thanks!
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Contact
I’m based in Copenhagen, Denmark but work with clients around the globe.
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