Intellectual property is a bread and butter issue for businesses
Wayne Beynon, intellectual property lawyer, explains the importance of protecting intellectual property in business
Intellectual property refers to creations of the mind, such as inventions, literary and artistic works, designs, and symbols, names and images used in commerce.
IP is protected in law by the likes of patents, copyright and trademarks. These safeguards enable people to earn recognition or financial benefit from what they invent or create.
At a commercial level, IP allows your business to stand apart from the competition. And if you’re conscientious about your IP protection, especially if you have a strong brand, it will not only protect your business identity, but can also generate significant income.
As with most things in life, the difficulty can be knowing where to begin – particularly if you’re a startup or SME. Understanding what IP is – and how it’s valuable to your business – is vital.
It all starts with getting the basics right – and in the case of IP, the basics are trademarks, copyrights and patents.
TRADEMARKS
It’s important that businesses protect their brand(s) by registering trademarks in the countries where they offer products or services. Once registered, trademarks enable you to stop other businesses using the same, or similar, branding. In the UK, some IP rights, including trademarks, are registered with the Intellectual Property Office (IPO).
Without a registered mark, imitation of your brand is a very real threat.
The IPO will consider registering words (eg Nike), logos (such as the Nike swoosh or the McDonald’s golden arches), straplines (“Just Do It”, “Because You’re Worth It”, “Every Little Helps”) and even designs, colours and shapes as trademarks. The key requirement is that the trademark can distinguish your business from the competition.
But before you apply for a trademark, you need to give it some thought and a little research.
First, make sure nobody else has got there first. Google is your first port of call here, but it’s always a good idea to get professional advice too. An IP lawyer can search the right trademark registers for conflicting marks before you waste any more time and money.
Also think about how recognisable your intended trademark is. The IPO will refuse to register anything that isn’t easily identifiable by the public or words that simply describe the goods or services you’re offering.
And clearly applications that contain offensive material, promote illegal activities or mislead the public in any way won’t get very far.
Without a trademark, there’s nothing to stop a competitor from using elements of your brand. For a small business, securing trademark protection could both offer you peace of mind and enhance your company’s value.
COPYRIGHT
Copyright law protects original written, artistic and musical creations, and prevents others from using or copying your work without permission. Charging a licence fee to use your copyright can be a major source of income for lots of businesses.
Unlike trademarks, you don’t need to apply to register your copyright work in the UK because, by law, copyright protection will apply to your work from the moment it’s created.
Copyright infringement occurs when others use your copyright without your permission. One way to deter potential infringement is to use copyright notices – including the familiar © – to warn others that your content is copyright protected. While this is a red flag to wouldbe infringers, it does not in itself give your work any extra protection.
If you do find that someone is infringing your copyright, you are entitled to demand that they stop and may be entitled to recover damages/money from the infringer.
PATENTS
Patents protect inventions. If you’re successfully granted a patent, you’ll have the exclusive rights to make and sell products that incorporate your patented invention for a period of 20 years.
Big tech firms like Apple and Google are prolific patent filers and have been involved in longstanding multi-jurisdictional court proceedings in an attempt to gain the upper hand in the tech market. Apple has registered tens of thousands of patents during its lifetime, although interestingly it’s always IBM that ranks at the top of the patent application charts.
In a pharmaceutical context, patents are the main reason new drugs tend to become far more affordable after they’ve been on the market for 20 years – once the patent expires, competitors can copy and mass-produce the drug.
Securing patent protection can be a lengthy and complex process, with the major hurdle often being the need to prove that your invention is actually new. Once you’ve got a patent, though, it can prove invaluable – particularly if it covers a truly game-changing invention.
It’s important to remember that unlike insurance or tax, no-one will remind you about your intellectual property. There’ll be no reminders to check that it’s protected – and it’s unlikely that anyone will let you know if your IP is violated. That’s why it’s so important for businesses to get specialist IP advice as soon as possible – it will save you time, heartache and money in the long run.
■ Wayne Beynon is an intellectual property lawyer at Cardiff and London-based firm Capital Law.