The Traklight Blog

Explore the world of intangible assets and IP with guest blogs, business owner interviews, and more.

3 Reasons Why You Should Protect Your Intellectual Property

You've heard people talk about intangible assets and why it's important to protect your intellectual property (IP), as well as why you should protect it from the time you have the idea (not after you get into business). Have you ever asked yourself, "So what? Why is it important to me as a small business owner?"

Here are some examples of recent cases and how protecting their IP helped them make a case for what was originally theirs:

If I still haven't gotten your attention, here are three reasons why you should consider securing that IP:

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"I'm In": Why Entrepreneurs Use Patents

Did you catch last night's season premeire of Shark Tank? If you have been busy working out the details of your innovation, you may not have had the opportunity to tune into this popular TV show on which entrepreneurs seek investments from five self-made multi-millionaires and billionaires.

If you have watched the TV show, then you know that once the business financials are highlighted, the next question the Sharks ask is, “Do you have a patent?” You also know that if there is no patent, or even a patent pending, each Shark immediately responds by saying, “I’m out.”

Let’s look at two essential reasons for the Sharks’ response, and how entrepreneurs benefit from patents: as a way to suppress potential competition and to get investors to say, “I’m in.”

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What Architects and Engineers Need to Know about Intellectual Property

This is a guest blog by Danny Swift, LicenseSure LLC Intern, with guidance from Patricia A. Harris, Esq., Founder and CEO of LicenseSure LLC. LicenseSure provides business formation and licensing compliance services for design professionals throughout the US. A/E businesses must conform with both business and licensing rules in every state in which they have a project, and requirements are often opaque and frequently differ from state to state. Failure to comply with these rules results in fines and penalties for unlicensed practice, not to mention project stoppages, disrupted client relationships and bad publicity. LicenseSure assists its clients in all 50 states with establishing and maintaining compliance throughout the course of their projects.

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LOT Network to Protect Intellectual Property Against Patent Trolls

Patent trolls have long been a scourge to innovators and entrepreneurs, using their claim on overly vague patents to pursue legal action against businesses with the intent of winning a settlement, while never actually attempting to use the patent to develop their own product. But now a cadre of tech companies has joined together in an effort to curb patent litigation and protect themselves from future trolling, save the type found in internet comment sections.

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How to Protect an Idea without a Patent

Many people who start a small business do so because they feel they have a truly unique idea. Many individuals just starting their small business may not have enough money to utilize the patent process. In some cases, it makes sense for a small business to try and sell their product without a patent. There are still cases where a person's idea can be protected without the patent process.

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Protecting Your IP: To Copyright or Patent? That Is the Question.

Time and time again, we've discussed that your intellectual property (IP) is an invaluable aspect of your business. As more and more tech startups gain prominence, a significant issue needs to be addressed regarding protecting your IP: should software be protected by copyright or patent? For years, companies believed that copyrighting software was the logical method to protect it from being imitated. Since then, it has become clear that copyrights have become a little more ambiguous when it comes to whether someone copied an idea from a piece of software.

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