Why should an invention or brand be protected?IP or IPR, intellectual property rights, can sound complicated. The uninitiated may raise their hands at this point: IP sounds too difficult and awkward. This is a familiar situation for our experts, as there are still many companies that are not in charge of their intangible assets. Fears out, a good expert can talk about intellectual property rights understandably. When there is no information, it is easier to say “no”. But is the easiest way the most sensible? For a long-term business strategy, burying your head in the sand can be dangerous. For example, patent protection must, as a general rule, be sought before an invention becomes public. After release, the game may have already been lost and it may not be possible to obtain patent protection. If your company has not considered IP issues, it might be a good idea to stop at this point to consider why this important corporate asset is not on the agenda of corporate management. What are the risks if IP matters are not managed in a controlled manner? Perhaps so far, luck has avoided problems, but in the future, do we dare to take risks and be unaware of the movements of competitors and the rights already protected by others?
Do you take a risk, or do you protect your IP?
If your company has not considered IP issues, it might be a good idea to stop at this point to consider why this important corporate asset is not on the agenda of corporate management. What are the risks if IP issues are not managed in a controlled manner? Perhaps so far, the problems have been avoided with luck, but will we dare to take risks in the future and be unaware of the movements of competitors and the existing protections of others? Is your own invisible capital still being left unprotected? The company does not have to wrestle with these questions alone, as it is good to make informed decisions based on an assessment made with expertise.
Indeed, intellectual property rights should be seen as an investment rather than a mere cost item. What is the relationship of IP to other investments in the company? It is probably a relatively small amount of money - especially if you look at the price of intellectual property on a monthly basis. If you invest large sums in marketing your brand, are you willing to take the risk of not owning your own brand and therefore end up in a trademark dispute? Disputes can only become costly. Thoughtful and expertly managed protection is effective in preventing disputes. Knowledge of the competitive field and the existing protections of other players will help to avoid unintentional infringements. When you know what you’re doing, at least you don’t accidentally step on anyone’s toes. At its best, well-maintained intellectual property can also make money, as licensing has increased significantly. In the case of corporate or technology acquisitions, intellectual property rights also have a monetary value. When applying for funding, technology and brand protections are often a prerequisite for funding.
Have you clarified your own situation regarding the different forms of protection? Has a technology mapping been carried out? Do brands matter in business? What about design - is it an important part of the product? Different forms of protection can be incorporated into a company’s considered IP strategy. For example, a patent is a prohibition in nature that prevents others from using a protected solution. In addition, it is public. What if someone else comes up with the same solution and protects it? In this case, it may become an obstacle to one's own activities. In IP matters, it is important to make informed decisions. In some cases, the most effective strategy is to leave something unprotected and keep the solution a trade secret. However, the decision must be based on a considered strategy, in which case the relevant contractual matters must also be in order. Boco IP helps you choose the right forms of protection and build strong IP protection.
If your own product or brand is not protected, it is practically very difficult, if not impossible, to prevent them from being copied. Without trademark or design protection, a company is often unarmed in the fight against copiers - both in China and elsewhere. The IP world has become more and more open to Finnish companies in recent years. Corporate management understands that IP is not just a matter for big gamblers.