Brian More on intellectual property management
Registering a trademark, owning the copyright and protecting intellectual property. These three terms can easily give any business owner headaches and heartaches within a few seconds. Why is it even important to slouch through all the paperwork? Brian More, expert on the field and director of IP services at the University of Coventry sheds his views on the matter.
“85% of the value of a business sits in intellectual property,” Brian More explained, “the first thing funders look at, is how protected is your IP” he warned a room full of MEDO entrepreneurs. More recently gave a workshop to our International Trade Programme entrepreneurs, and after opening with such a statement, the room became all ears.
As IP management is connected to manufacturing, marketing and sales sectors, each and every entrepreneur need to take a particular interest in the field. More even goes as far as stating that a whole business is essentially built on IP, and in the world where copyright can be infringed on an everyday basis with the mere click of a button. “It is your responsibility to check that no one uses your property, if you don’t report it, no one will,” More furthers. He also adds that in this regard, the trademark is the most important form of IP to protect, “a trademark can last indefinitely, and it is the basic element that customers know you by. It’s your choice, you can either use it, or lose it.”
Tips to protect your IP:
- Never assume something is free to download
- Never assume something is free to upload
- If you use a cloud-based server, read the terms and conditions carefully, you may be giving your IP away for free
- If you want to own something someone else created, like a website for example, you need to state in the contract that you are the owner. Remember IP refers to the creator.
- You can’t protect ideas or concepts, it needs to be something with industrial capabilities. Be sure you can back up your idea before you start promoting it as ‘yours’
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