Throughout humanity, each discovery has raised more questions as we continue to explore new territory. As we continue to explore the frontier known as cyberspace and discover new ways to use the medium, we open ourselves to more ethical dilemmas and questions. Intellectual property has always been a thorny issue. However, the Internet poses new problems for companies and individuals seeking to protect their intellectual property. With easy access to information, protecting your IP is a virtual minefield.
What is intellectual property? Intellectual property (IP) is matter that is a product of the intellect or mind. However, the term actually refers to legal rights that are attached to intangible ideas, concepts, and certain types of information in their express form. For example, a book or film is the expression of a creative and artistic work and Intellectual Property would provide the copyright holder with exclusive rights for a period of time to control the reproduction and adaptation of that work. Copyrights, patents, trademarks, and industrial designs are examples of intangible matter. An often overlooked intangible is trade secrets. Trade secrets can be protected under Intellectual Property.
Intellectual property is a valuable business asset that can be leveraged in the marketplace as a competitive advantage. An IP audit can help you determine what hidden assets you may have in your business. Many companies will send you an IP audit checklist that has a series of questions designed to uncover valuable business assets. Once you have discovered your IP, you must take steps to protect it.
Make sure you own the rights. In today’s world, many companies outsource functions that are not their core competency. Paying to have something created does not give you ownership. You may have paid an outside contractor to develop a sophisticated software program, or a graphic designer to revamp your logo, or even a writer to develop your marketing materials. When you hire outside companies to create something for you, you should always use a Work For Hire Agreement. Standard deals are widely available. A work-for-hire contract basically transfers all rights from the creator to the payer.
Don’t forget about your employees. Many organizations have their employees sign employment contracts that stipulate that any work created for the company belongs to the company. It is similar to a work-for-hire contract with independent contractors in that the rights belong to the organization and not the individual. You are paying employees to create the work on your behalf.
Protect your inventions. If you have invented a patentable business method, process, or other invention, you must take steps to protect it. It is advisable to refrain from selling a patentable invention until you have taken steps to protect your rights. Filing a patent application is expensive and something that must be done by a patent attorney. If you are a new business, there are interim steps you can take that will offer you protection until you have the money to file the patent application. Submit an Invention Disclosure Document. This document can be purchased for around $10.00 and, when filed with the United States Patent and Trademark Office, will protect some of your rights for approximately two years. You can also document your invention in an invention journal or something similar and mail it to yourself through the United States Postal Service. It is important to use the US mail system instead of a third party carrier like FedEx or DHL. The post office is a federal agency and will be accepted by the Patent and Trademark Office. Once you receive the package, please do not open it; keep it in a safe place until you are ready to take the next steps.
Notify others of your rights. If you have created written works or other information that falls within copyright law, use the copyright symbol, which is the C in a circle. This can be followed by the year the job was created and the name of your organization. A circled R indicates a registered trademark and should not be used unless you have registered the item (ie logos, brand name). However, you may use TM (Trademark) or SM (Service Mark) in conjunction with your name or logo. This will deter others from stealing your work. Also, if your internal or external contractors are creating software for you, ask them to embed fingerprints into the code to protect you in case someone steals your software. Fingerprints are identifiable information that can be used to prove that you created the software.
While you want to share your IP with the public to boost business, it’s equally important to take steps to protect this valuable asset.
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