10 Things I Know About ... Intellectual Property Law

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By Mary Casey

10. THINK VALUE Keep in mind that the value of the company is directly attributable to the value of the intellectual property.

9. CLOSELY MONITOR DISCLOSURE Require all employees, suppliers, vendors, and anyone else who has access or is likely to have access to intellectual property and other proprietary information to sign confidentiality/non-disclosure agreements.

8. KEEP THE COMPETITION GUESSING Require key employees to enter into non-competition agreements that prohibit them from engaging in a competitive business during the term of their employment with your company and for a defined period of time after they leave it, within a defined geographic area.

7. CHOOSE YOUR PATENTS WISELY Maintaining a patent-rich portfolio can be very costly. Your business/investment model must be able to support your patent budget.

6. DON'T UNDERESTIMATE THE POWER OF COPYRIGHT Federal copyright registration is not only easy and inexpensive to acquire, but it may increase the amount of awarded statutory damages if you were to prevail in litigation.

5. MIND YOUR BRAND A well-implemented branding strategy ensures customers know you're the source of the goods or services the brand represents. Even if you don't have a federally registered trademark, continuous use of it establishes common-law trademark rights.

4. KEEP IT A SECRET! Set up correctly, trade secrets can provide long-lasting protection for years. Consider whether the benefits of keeping something under wraps outweigh the benefits of a patent.

3. INFRINGEMENT DOESN'T HAVE TO LEAD TO A LAWSUIT If someone is infringing on your intellectual property, it may be less costly to offer them a license agreement than to engage in a lawsuit.

2. THINK GLOBALLY Understand the intellectual property laws of every country where you sell or manufacture products.

1. MAKE SURE YOU OWN WHAT YOU THINK YOU OWN Collaborative agreements should clearly state the rights granted to each party in the ownership and use of the intellectual property.

Mary Casey is founder of The Harbor Law Group of Northborough, and specializes in intellectual property law.

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