Protecting Genius: Why Intellectual Property (IP) Matters from the Start
As a founder, turning ideas into a thriving business means protecting your IP from the start. Your company’s IP is what differentiates your brand, sets you apart from competitors, and fuels your business’ value.
From day one, it’s critical to establish clear ownership of any IP created – whether it’s your logo and branding, software developed, or even the shape of your product.
A common example is that many founders work with third parties, such as contractors or family and friends, who contribute ideas to projects that help bring the founder’s vision to life. Without appropriate documents in place it is likely that any IP created by these third parties will not belong to the founder’s company but will be owned by the individuals themselves. In such a scenario, where your company does not own IP that underpins the business, it is a fair question to ask why anyone would invest in or have confidence working with the company.
Ownership of IP, therefore, is something that should be dealt with from the outset and before any material projects are undertaken. If there is no certainty over IP ownership it can lead to lengthy and costly disputes, lost opportunities, and ultimately difficulties attracting investors.
Protecting your company’s IP and having clarity on IP ownership is not just about preventing copycats – it’s about laying a solid foundation for your business’s long-term success.
If you would like to discuss your IP and ways of ensuring certainty of ownership, ahead of securing investment or otherwise, please contact John Harrington.
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