Intellectual property is very important part of any business. Regardless of the field of activity, such IP objects need protection: trade name, trademarks, trade secrets, know-how, results of workers creative activity (e.g. software), new technologies or devices that could be inventions (utility models), and so on. Underestimating the importance of intellectual property and neglecting the registration IP right objects in time can lead to the risk of negative consequences.
For example, the unregistered trademark creates the risk that competitors will start working under a similar brand. It is possible that such activities will lead to financial and other substantial damages. Prohibiting the use of an unregistered trademark will be very difficult, and in some cases impossible at all. There are cases when trademarks are registered under the name of the director (employee), legal adviser or other third party, which in the future may create a risk that the real holder will be prohibited to use trademark. Wrongfully registered trademark can also cause a lawsuit against business owner.
For more than 10 years of activity in the IP legal market, we had many cases when people incurred significant financial costs because they underestimated the importance of intellectual property in their business.
Hence, in order to avoid financial losses and litigation in the future, business owners should ensure that their company’s IP rights are protected as early as possible. It is better not to wait for a conflict to occur, but to ask specialists in advance to analyze and ensure the protection of all intellectual property.
IPStyle provides full list of services for the maintenance of companies IP portfolio. What is more, we will suggest you how, what and when you need to register, how to respond to claims from third parties and what strategies will be effective in rights protection in your situation.