You may be working on a new concept, developing a new idea, invention, or design. If this is the case, it is important to protect it.
Legally protect your idea against all parties by protecting your intellectual property. Here we talk about copyright, trademark, and patent protection.
If this is the case, there is a constant risk of IP (intellectual property) infringement.
Protecting your intellectual property can give you a huge commercial advantage. Consider the following steps that you can adopt to discourage and limit the risks of IP infringement.
WHAT ARE NON DISCLOSURE AGREEMENTS?
A Non-Disclosure Agreement (NDA), or confidentiality agreement, is a contract you sign with a person or entity in order to ensure that they do not divulge some key information about your business. The information you want to protect is clearly set out in the NDA and only binds you and the person or entity you are signing the NDA with.
You can sign a NDA at any time, before or after your company has been registered.
The sanctions for infringing the NDA are also set out in the NDA.
Download the NDA Template.
WHAT ARE INTELLECTUAL PROPERTY RIGHTS?
Intellectual property (IP) represents creations of the mind or intellect that can be legally owned. Intellectual property rights include patents, trademarks, and copyrights. Intellectual property rights can be considered a lucrative asset if there are plans to sell the business, merge with another company, secure funding or embark on a joint venture.
PROTECTING YOUR INTELLECTUAL PROPERTY: TRADEMARK, PATENT, OR COPYRIGHT?
In order to protect your start up brand name and the logos used on goods and services of the company it is important to register your trademark.
If the activity of your start up is related to artistic or literary work, computer software, video films and audio-visual works it is important to protect your work with copyright protection.
Finally if your start up is developing a new concept or invention it is important to register this new concept or invention by registering a patent at the Ministry of Economy and Trade.
HOW TO REGISTER FOR TRADEMARK, PATENT AND COPYRIGHTS PROTECTION?