A new idea or invention created by the human mind introduces unique legal issues. If they fail to consider the steps required to protect their legal interests, the hard work performed by a creator and any potential rewards for their efforts may vanish. The recent introduction of artificial intelligence in creating music, art, and writings, as well as the proliferation of digital assets, such as Bitcoin and Non-fungible Tokens (“NFT”), introduce new and even more complex legal questions into this area of law.

Whether it be a trade secret, copyright, or trademark, intellectual property (or “IP”) law provides creators the enforcement and protection necessary to safeguard their legal interests over their ideas and brands in the global marketplace.

How Can Intellectual Property Lawyers Help Your Business?

By Design Law represents and advises clients on a broad range of IP law issues, including negotiation, registration, and litigation services, guiding clients through all stages of the process to ensure legal protection of their creation or asset. With prior experience in IP law, we provide clients with the necessary legal advice and representation in their matters. Our background and focus on technology allow us to provide clients with advice on emerging areas of IP law, including domain name rights, digital assets, and machine-created content.

What Falls Under Intellectual Property Law?

Intangible assets owned and protected by an organization are considered intellectual property. An infringement can occur when a third party or another business copies or distributes intellectual property you own. You can prevent this by implementing the right technology solutions to ensure you're alerted if your intellectual property is used without your permission.

Some common intangible assets you can protect include:

Trade Secrets

Any information that has economic value because it is not generally known or readily available, and there are actions taken to ensure the information is not generally known or readily available, is considered a trade secret.  While they generally lack formal intellectual property protections, such as patents or copyrights, they have the advantage of having indefinite protections provided its owner takes reasonable steps to protect it from being generally known or available.  Conversely, this lack of formal protections makes it hard to derive any economic benefit. 

Copyrights

Original works, such as ebooks, architectural plans, and computer software, can be copyrighted. Anyone who owns the copyright has the right to use, duplicate, or license the asset. If you're a publishing company, for example, the copyrights belong to the person who wrote the book, but as the publisher, you may be given limited rights to copy and distribute the asset.

Trademarks

Logos and other branding for an individual or organization allows it to convey and distinguish its goods or services from others.  Trademarks are a word, symbol or phrase used to identify a particular manufacturer or seller's products.  This can extend beyond words, symbols or phrases to include packaging or colors.  Governed by both state and federal law, trademarks make it easier for consumers to quickly identify the source of a given good or service. 

Franchises

A franchise is a license given to a third party, known as a franchisee. Franchising your business gives you the right to sell your trademarks and products or services along with the processes needed to successfully operate the business to multiple third parties.

Established businesses can generate significant revenue from franchising. When they decide to sell franchises, they're usually paid a startup fee in exchange for the rights to use the trademarks, products, and business processes.

Why Is It Important to Protect Intellectual Property?

You should protect your intellectual property to ensure your ownership rights are not devalued or diluted through unauthorized use by third parties.

Intellectual property can set you apart from other businesses, giving you a competitive advantage. When it's stolen, you may end up losing sales, customers, goodwill or a positive reputation. An example of intellectual property is an e-book written specifically for your clients who sign up for your services. When this e-book is copied and distributed unlawfully, the number of customers who sign up for your service may be reduced.

In some cases, you can take advantage of intellectual property to acquire more capital to grow your business. You could use money raised by leveraging your intellectual property to acquire new equipment or other assets to grow your business. We recommend hiring intellectual property attorneys to help you identify and even monetize your intangible assets.

With an experienced lawyer on your side, you can sell, license, and otherwise use intellectual property to help you create other products and services. This may open opportunities for your business and may even generate more revenue.

Work With By Design Law Today to Protect Your IP

By Design Law is a law firm that serves clients and businesses in Washington. Our goal is to help organizations identify and protect their valuable assets, such as trademarks, trade secrets, and copyrights. We have over 20 years of work in the industry, and our team has hands-on experience in intellectual property law.

Our firm is ready to help you with advice and representation for your IP law needs. Call our office at (206) 593-1519 or click below to schedule a consultation.

Contact us if you suspect intellectual property theft or infringement or if you need help monetizing your intellectual property. You can reach us by phone or email or visit us at our office in Seattle. Feel free to get in touch if you have questions.