Protecting Your Business Idea

     Many small business entrepreneurs have great ideas with realistic marketing potential.  They may fit a certain niche market or provide a unique service or product that solves a specific problem or provides a new way of doing something.  The big question is should  you protect your idea?  How do you assure that some big company doesn’t take your idea and run with it?  We urge existing and new businesses to seriously consider the need for protecting their new ideas.  But, it can be a little complicated.
     Abbreviations and symbols such as “TM,” “SM,” “PAT PEND,” “©,” “®” carry a lot of legal power. They help to safeguard a company’s names, products, services, and designs. As an entrepreneur, you should find out which ones you need and make sure they protect the intellectual properties of your small business.
     Trademarks are not the same as patents and copyrights, even though the differences are not widely understood. While there are similarities, they serve different purposes.
     According to the U.S. Patent and Trademark Office (USPTO), a trademark is a word, name, symbol or device used in business to indicate a source of the goods, i.e. your business, and to distinguish those goods from those sold by another business. A service mark is the same as a trademark, except that it identifies and distinguishes the source of a service rather than a product.
     A patent for an invention grants a specific legal property right to the inventor—“the right to exclude others from making, using, offering for sale or selling” the same invention.
     A copyright is harder to define. It is mainly a protection for authors of original works, including literary, dramatic, musical, artistic and other intellectual works, both published and unpublished.
     The Internet has transformed the once mysterious process of applying for a trademark into something accessible to anyone willing to spend some time to understand the intricacies and get it right. But while no business skills or special legal knowledge are required to apply, the field is filled with potential pitfalls and wrong turns that could sabotage your trademark filing if you don’t know the intricacies of creating trademarks that can stand up to legal challenges later on.
     For example, the application requires that you identify goods or services under specific categories. But misunderstanding these categories and filing too broadly or too narrowly can ruin your trademark and cause problems later on. A qualified trademark attorney can help you avoid such problems.
     The U.S. Patent and Trademark Office’s Web site at www.uspto.gov provides a wealth of information and resources about protecting your small business’ intellectual properties. You’ll find basic information about trademarks, patents, and copyrights; links to easy-to-follow “How To” guides; and search engines for researching existing trademarks and patents.

Contact JWB Interest Today

Management Advisor   Marketing Advisor   Business Communications

JWB Interest, LLC  2012 All Rights Reserve