What Parts of Your Business Count as Intellectual Property?
Intellectual property protection is a largely misunderstood, but very important, part of running a business. Before I became CEO of MyCorp, I worked as an attorney, focusing on intellectual property, so I have firsthand experience with how debilitating IP theft can be. Your business’s intellectual property not only gives it a competitive advantage, but can also define its very nature. So just what parts of your business count as intellectual property? And how do you protect it?
Utility Patents are arguably one of the better-known types of intellectual property protection. Effectively, once you think up and develop an invention, you can file a patent application with the USPTO. If approved, you’re granted the right to choose who can make, use, or sell your product for up to twenty years from the filing date. And, obviously, if you’re building a business around your invention, you should protect it with a utility patent. Design patents are a slightly lesser known, but equally important, form of patent. These protect the unique appearance of a functional object. So if you sold soda and your bottle had a particularly novel and unique design, or you thought up an ornamental design for jewelry, you could file a design patent.
Your business’s reputation and its brand are inextricable. Branding is how a business distinguishes itself from the competition, and what brings in new customers. When you first started your business, you likely filed for a ‘Doing Business As’ name, which keeps other companies in your county or state from using the same, or a similar, name. However, you can take this protection a step further if your business name is an integral part of your branding by filing a trademark. You aren’t technically trademarking the name – rather, you’re registering a mark you use to distinguish your business in the market. The same protection can be extended to your logo, if you have one. Now, you have an automatic right to these marks once you start using them, so you don’t have to file anything with the USPTO if you do not want to, but registering them makes enforcement much easier.
Trade dress refers to the appearance of a particular product, its packaging and, in some cases, even the décor of a business. For example, a big yellow box with a red heart on it probably reminds you of Cheerios, and Starbucks has an interior design it uses in all of its stores. As long as that design is perceived as an identifying feature of whatever you’re selling, you have a right to it. And you can formally register that right with the USPTO, which will help you challenge any future infringement.
Your Website and its Content
Like trademarks, you technically have a copyright to your site and its content once you create it. You should include a copyright notice somewhere on the site to inform others of this right, but you don’t need to file anything if you don’t want to. However, if you ever want to file an infringement suit, you’ll normally need a public record of the material being infringed in order to collect statutory damages.
Even the marketing you use to sell your business’s service or product can count as intellectual property. Jingles have been used in marketing since the early twentieth century, when radio advertisements began to use simple compositions with hooks to distinguish and promote a product. Since they are unique, creative works, you have a copyright to the jingles you use in your marketing. The same goes for commercials you air on television or the radio. Any creative works put in a fixed, tangible form are copyright of their creator.
Obviously, a good portion of your business counts as intellectual property. Logos, names, ads, jingles, products, packaging, designs – as the creator of these unique features of your business, you have a right to use and distribute them. Patenting your inventions, and registering any trademarks or copyrights you have a claim to, can really help you protect your business. Speak with a professional and review any intellectual property that you own. You’re never too small to be a victim of infringement.
Latest posts by Deborah Sweeney (see all)
- 5 Reasons Why It’s the Perfect Time to Start a Business in California - February 18, 2017
- 5 College Entrepreneurship Myths Debunked - January 28, 2017
- How to Start a Business in the Top Cities for Growth Entrepreneurship - January 8, 2017
If Trump Kills the Fiduciary Rule, What Does It Mean for Your Small Business?
Georgia McIntyre / Feb 8, 201791
The 5 Most Profitable Industries for Small Business Owners in 2017
Meredith Wood / Jan 26, 201718
Which Trump Plans Will Affect Your Small Business Most?
Georgia McIntyre / Jan 25, 201715
Want Free Money? Check Out This List of 108 Small Business Grants
Ben Rashkovich / Jan 26, 201713
Dreaming of Starting An Event Space? Here's the Secret to Success
Eric Goldschein / May 3, 20166