The What and Why of Intellectual Property Rights and Why You Need to Protected Them

The world’s most forward looking companies combine top-tier talent with the focus and flexibility demanded in the 21st century marketplace. It’s time your business/organization did the same. But why do you require a reputed and an experienced law firm? The first reason is to protect your intellectual property. The importance of intellectual property cannot be underestimated.

What is intellectual property?

Our mind has the ability and the creativity to think amazing things. These wonderful ideas or creations of mind are called intellectual property. Though they are intangible, they have immense potential to translate into viable commercial opportunities. Patents, trademarks, copyrights, geographical indications and industrial designs come under the umbrella of intellectual property.

What are intellectual property rights?

Intellectual Property Rights are your legal entitlement over whatever that wonderful mind of yours cooks up. These rights grant you exclusive power to exploit and benefit from your creations of mind. They are considered crucial to encouraging innovation by providing a financial incentive to stimulate creativity, whereby you can reap the benefits from your inventions and be more willing to invest in research and development.

Why are intellectual property rights important?

In today’s economy, ideas have great power. It is no surprise to note that returns on investment for ideas are higher than returns on other factors of production.

Intellectual property rights contribute to ensuring profitability from ideas. Hence, they add a layer of protection to ideas that otherwise would have been pillaged ruthlessly by others.

Why is it essential to protect intellectual property rights?

In this era of the digital world, it is easier to pilferage innovations than it was ever before.  An idea can be transmitted globally, instantly via the internet. A new machine can be reverse engineered, perfectly reproduced and put on market in another country with minimal effort. An out of the box business venture can be analyzed and recreated without any credits or benefits to the original creator.

This is a big bad world. You can never be too careful about your intellectual property rights, lest someone steal them and take advantage of them. Ensuring that rights are in place provides a legal basis from which to protect against copying.

It is estimated by Interpol, International Chamber of Commerce, FBI and World Customs Organization that approximately 7-8% of world trade every year is in counterfeit goods. This equals almost $512 billion in sales that are lost by the original innovators like you.  Theft of intellectual property poses a risk to all industry sectors and hence it is essential to take active steps to protect them.

If you want to exclude other individuals or enterprises from taking advantage of your great and innovative ideas, you need to take steps to protect your intellectual property rights.

How can you protect your intellectual property rights?

The simplest way to protect your ‘creations of mind’ is to hire an experienced team of lawyers who are well versed in the laws of intellectual property and have been working in the field for a long time. Having them on your side will give you the freedom to research and innovate without worrying about all the thieves lurking out there. You can safely keep thinking and brainstorming, knowing that something like ‘intellectual property rights’ exists and that your ideas are given just as much importance in law as any other tangible assets.

If you want the best team of lawyers on your side, contact us. For starters, you’ll get

 

  • Assessment of your idea:

We try to get an insight into the idea you are proposing. We then give appropriate suggestions to make your idea better and more financially feasible. We help you identify the markets you can cater to and give you relevant solutions to any legal hurdles you might face.

  • Guidance and counsel:

We offer relevant advice on how you can protect and make a profitable business out of your ideas both locally and internationally.  We offer unbiased guidance on how you can develop legal strategies for protecting your intellectual property. We can assist you through the entire licensing processes and negotiations that come along when you want to use your ideas for commercial gains.

And you know what the best thing is? The consultation is FREE. You don’t need to think twice before coming to us. Get in touch with us and let us put all your worries to rest. With a long list of satisfied clients, we are best suited for the purpose of bringing your ideas to the fore. We are there to help you right from the inception process till the time the product is out in the market and even after that. We will be guiding you at every step to translate your idea into a profitable business venture. You wouldn’t have to run pillar to post in government offices. Let us handle everything for you. Let all the obstacles be a thing of past.

One thought on “The What and Why of Intellectual Property Rights and Why You Need to Protected Them

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