Intellectual Property Law

Importance of Protecting Intellectual Property

By J. Douglas Miller

Protecting intellectual property for any business entity is important.  Preventing another company from copying important equipment, products, or processes; protecting trademarks which could be the single most valuable asset for a company; etc., are extremely important.   However, for one reason or another, small and medium sized companies often fail to protect intellectual property rights.  Frequently, this results in lost profits for the companies, and could ultimately result in closing of the company.  Protection of intellectual property rights in modern times has become even more important with foreign companies producing knockoff products and flooding the U.S. with the copied products.

The issue of failing to protect intellectual property is not unique to the U.S., however.  This article from the U.K discusses the importance of protecting intellectual property by a small company or individual inventor, and discloses the results of a study that indicate this is seldom done.

Full post as published by Small Business IP Protection and Management on December 11, 2008 (boomark / email).