Wanna know why Intellectual property (IP) and IP-rights are worth your love and attention?
I’ll tell you in a bit – but first: Here’s what the blog is about. Like everything I do here at PATENTsmarter™, this blog is centered around helping you take better care of your business through copy prevention and defense actions.
I don’t want to assume that you already know anything about intellectual property (at least not in this blog post).
I know that most people (maybe people like you?) think that intellectual property rights, patents, and all that – are incredibly boring and difficult to find the motivation to dig into.
I will not tell you that intellectual property rights (IPRs) are exciting on their own…
But let me tell you this: Intellectual property (IP), intellectual property rights (IPRs), and other related laws are not exciting when you look at the legal texts and rules as such. But what do they do for you, and what tools do they use to protect your work and revenue? You see… That’s where I get excited. And think that you should too!
If you utilize them correctly, you can earn more on the same products because you can prevent and stop copies and other abuse of your insights and know-how. Wouldn’t it be worth spending two minutes here and there during a work week and a few hours when you produce “new products” or “important marketing material” that drives your success and profit now and in the future?
Don't let the fear of the unknown lead you to miss out on profit!
I want to give you some “food for thought” before you learn about intellectual property rights (IPRs) or dismiss them as complicated and tedious without understanding the value of at least the basics.
If you know the basics, you are so much “better off” – and can decide to learn more because it makes sense. And then I am more than happy to be your support system and cheerleader!
You may find other posts on this blog interesting, too:
→ In this post e.g., I am giving you a perspective of how my “product-protecting” brain works when I look at a business. I will tell you which aspects I would look into if I were the owner of or was building your business-relevant copy defense strategy and everything else associated with securing current and future products, assets and success, and revenue.
Cool! Right?!…
But for now, let me explain what you can expect from this blog.
Expectations must be aligned in everything we do, whether providing products to customers, engaging in collaborations, learning from blogs, or receiving case-specific advice.
Skip the difficult stuff for now - start with the essentials, otherwise you will get bored too fast
Use the categories in the blog or filter them in the shop to find the knowledge you need, regardless of your expertise, experience, and educational background. (Read here how and why the categories are structured the way they are.) They will help you avoid getting into the nitty-gritty of patents if you don’t need them. The shop and blog categories are structured similarly to help you select the most relevant topics and intellectual property rights (IPRs) for your business or product type.
Suppose you are sighing in relief right now. I am glad I could help. You are welcome.
I am sure you will enjoy PATENTsmarter™, not only the blog but also other offers and the opportunity to book sparring sessions (check if you can book a free 15-minute session with me – it’s an offer I provide for all new customers). There are limited seats, as you can imagine, so make sure to book one while you can.
Entrepreneur, Startup, SME, Corporate Business - you (and your work) are worth it
As an entrepreneur, it can be hard to accept when other businesses copy or imitate you. From this perspective, it hurts, no matter the size of your business. However, larger companies can compensate more easily for revenue losses than small businesses with fewer products and smaller workforces.
It’s not just confusing for your customers; it can also feel disrespectful to your hard work and damage your business and reputation. Moreover, it can demotivate you from creating new things because you don’t want others to take credit, profit, or revenue from your ideas.
A sustainable business does not waste resources!
Maybe your dream is a predictable and secure future.
Or maybe sustainability and “green living” are your drives to make a difference. Have you ever considered that you may be wasting valuable resources if you don’t prevent and stop copying the things you make and improve in your business?
An interesting study from 2023 showed that about 34% of SMEs (including micro-sized ones) have a higher risk of bankruptcy within 5 years of being copied (having their intellectual property rights infringed by a competitor).
I have yet to meet someone who likes the thought of spending hours, money, or other resources if they are wasted and do not benefit the company or customers as intended.
Business owners, investors, and decision-makers are not prone to “going with the flow” without estimating how the investment will return and increase its worth.
Are you ready for success and all the good, bad, and ugly that follows?
Perhaps you have already succeeded or worked in a company that is well on its way. Maybe you or the business have already reached milestone after milestone.
Either way, you will have faced or will face the experience of spotting a copied (work)product and need to understand whether or not you want to take action.
“Insurance” and peace of mind require knowledge and proactive actions
That is why preventive and proactive preparation to handle piracy and copy attacks effectively is essential for everyone who likes and needs foreseeable revenue and the ability to forecast cost-benefit.
This is not just for the big guys with a lot of products and money to spend but also for those who are just starting and need the money to stay in their business so that the next product production is more accessible, better, or faster.
Peace of mind is priceless. Your work (and life) quality improves with less stress.
Most of us want peace of mind to reach our goals, whether it’s growth or attraction of funding – or plain and simple, brain space to focus on our niche, expertise, or customers. When you have to handle a copy, imitation, or a conflict with your collaboration partner – that can be challenged.
A lot.
I have witnessed it.
More than once…
So, I believe learning about patents and Co. suits your business and your health.
Harvard Medical School agrees: “Stress management may reduce health problems linked to stress, which include cognitive problems and a higher risk for Alzheimer’s disease and dementia.”
Whether you find the risk of stress due to being copied or overstepping others’ rights neglectable or not, learning about IPRs can prevent you from experiencing it if it comes to that. #justsaying
Learn how to use Intellectual property rights to stop others from taking what's yours
To keep our investments safe, use them how we want and need them.
We need to need our hard work to make our business thrive – not the copycats’.
We need to position ourselves, so we can prohibit others (copycats and pirates) from victimizing us and stealing our ideas and products – using them in their copy business.
Or, at least, we need to be able to do something about it if they try.
Please believe me when I say: intelletual property rights are not as complicated as they may seem...
I admit: Learning about patents and other intellectual property rights is not on the “sexy list” of todos in your entrepreneurial journey.
It probably seems less urgent than learning about taxes and privacy policies.
It’s much easier to learn what to do (with the help of your lawyer or patent attorney) than to be in a situation where you can’t stop a copy or imitation from taking your market share or revenue.
Not being able to stop a copy from hitting the market or competing with your invention, product, or idea sucks beyond imagination.
It may all seem less urgent than learning about taxes and privacy policies – but it’s probably not!
It’s much easier to learn what to do (with the help of your lawyer or patent attorney) than to be in a situation where you can’t stop a copy or imitation from taking your market share or revenue.
Not being able to stop a copy from hitting the market or competing with your invention, product, or idea sucks beyond imagination.
What would hurt most? *urgh*
Which copy of your business asset, strategy, element, or product would hurt your success? What kind of damage would it lead to? What would you lose? Could the potential damage ruin your future growth, reputation, and revenue?
Successful companies include their (most) valuable business-assets in their copy-defence-strategy for protection to de-risk this destructive potential.
Take responsibility for protecting things that you can't afford to lose
Before sharing or showing anything, think about the information or product you’re sharing and the options you have for protecting it.
Some factors about what you share and when you share it (with whom) may limit these options, so investigate thoroughly.
→ 💡One of the biggest risks of not protecting your items is making them public. Publishing can be scary.
For instance, telling one person about your business opportunity, idea, or invention may be enough to jeopardize your patentability opportunity for good. It may trigger a conflict or idea theft. Therefore, taking precautions as early as possible is crucial.
You never know when or if something will become successful, but if it does, you will regret not protecting it better.
But IPRs are only for physical products, Gyde
Let me start by saying: Nope – think about movies, books, Netflix, and coaching brands like NLP, the design platform “Canva,”, “Kajabi” “Facebook,” and ” Google” – they are not physical.
They did not start as huge brands… They started as small educational, networking, and online businesses.
And a lot of their value is in knowing the customer, the design and user interface, the brand, names, logos, and all those trade secrets we don’t know anything about.
Some of them have chosen trademarkable names, others have not… But maybe they wish they did.
Every business type has options to protect some of their assets
🤐And if it feels like you don’t have any – you have the option to keep it a secret.
You may not have access to all IPRs depending on your budget or product type – but the less you have at your disposal – the more urgent is it to make the most of what you can use!
Some of the “cheapest” and easiest ways to protect your business can accelerate or support your branding; others may be too difficult to implement. But the deal is; your need to understand your options so you can make choices.
Letting things happen by chance and hope not to be copied is not what professional businesses do (sorry to be so frank – but someone has to put it out there).
Here is a quick and dirty list of who need to know which tools
Here is a rapid list of which asset protection options you should at least know about:
✅ Patents and utility models (physical products) – especially if you make physical products or something that can be used with or improve the manufacturing of physical products.
It may be expensive, but if you succeed and your product is attractive to sell – you should not underestimate the value a patent (or a whole “family of patents”) can bring to your business.
There are many SME-specific funding options, so if you are creating something with great potential, start applying for funding now! Here is an example of IPR funding in Europe 2023: SME funding via EUIPO and a Danish program: Innobooster.
✅ Copyright and design protection (innovative physical and online or digital products) – especially if you create things, design unique things like homepages and furniture, write blogs, or create pottery. Creating things that look pleasing or tell a great story and attract customers – because it is pretty or entertaining can be yours.
This is an intellectual property right that “comes for free” and that many entrepreneurs – and their customers know far too little about.
It protects unique content such as music, sales pages, your newsletter, online course videos, scripts, transcripts, etc. If you don’t understand them, how can you expect your customers to? And on top of that, expect them to respect them?! That’s a bit much to expect from others. Don’t you think?
⭐Stay tuned for my upcoming courses in the ideralify®DIGITAL series, where the focus is on copyrights, trademarks, and other tools and practices that can be used to protect online courses and knowledge-based products.
✅ Trademarks and domain regulations (all businesses who market to their customers, whether it is B2B or B2C) for bolstering your brand protection. These rights concern the commercial use of names, logos, and sounds and can be precious to a business, regardless of size.
→ Some marketers may disagree and say that a unique brand name is not as essential to a small business as a big one – but I would like to challenge that. How do you know that my small business will not turn into something big – rebranding then might be too late?
Oh, and I almost forgot: You can apply for funding of new trademark applications too: Access IPR for startups – Trademark funding
✅ Trade secrets and confidentiality (all businesses – especially if you don’t have access to a lot of the IPRs because of your budget restraints or your product type) – if you can not use an intellectual property right by use or registration, you need to be very aware of if you are revealing too much competitive intelligence to your competitors or costumers. Think about what is easy or hard to copy, opt for “hard to copy” as often as possible, and keep what’s easy to copy to yourself or restrict the access very carefully.
Conclusion: IPRs may seem boring, but so is brushing your teeth. You still do it. Every day!
So, do yourself a favor to understand at least the bare minimum, which only requires deep diving into your products, business, and assets.
Go from doing nothing to doing something…
and with time, you may even secure your business very efficiently. The earlier you start, the higher the odds that you are ready when the copycat is coming for your success.
