There’s nothing quite like the feeling of coming up with a novel concept that has some true value. But with that feeling comes a fear and vulnerability that your idea might get stolen for new innovators.
For new innovators, the initial discovery must be swiftly followed by pragmatic measures to safeguard this intellectual capital. Whether or not you’re a believer of IP and such, it’s the game we’re in and so you need to play along. And, neglecting this can lead to derailing future development and market entry. Early-stage asset protection isn’t just advisable, it’s a necessity in getting early-round funding and investment.
The first line of defense
Before committing to resources or public disclosures, it’s worth establishing a secure and unambiguous digital footprint. First and foremost is the pre-emptive acquisition of digital assets like the social media handles and any targeted, brand-related domain names, including any international variants (or similar domains that users may type in by accident), which is quick and easy to purchase with a registrar like IONOS.
Don’t look at these as just web addresses, but also markers of authenticity and control. And, it’s always worth having a paper trail of these purchases for any future legal conflicts.
Proactive registration can reduce risks like cybersquatting or brand impersonation, and it also helps acquire domains while they’re affordable (if your idea takes off, domains within this niche may rise in price).
Understanding intellectual property (IP)
Intellectual property is its own area of expertise that most innovators are forced to learn at some point or another. For tangible inventions or unique processes, patent strategies are regionally relevant (e.g., the US process differs from Europe’s) and must evaluate patentability criteria. This means looking at novelty, inventive step and industrial application.
Trademark protection on the other hand extends to brand identifiers like names and logos. Once secured, these help solidify and protect brand recognition and prevent any unauthorized use. Copyright automatically protects original literary, artistic and software works upon creation, but formal registration can be the difference in enforcement actions. Innovators should be strategic about these IP levers, taking into account the nature of the innovation and how competitive the market is.
Document everything
Documentation along the way is going to provide a paper trail of evidence for any innovation. You’ll be surprised at just how important a single email or time-stamped inquiry can be in a legal battle. The conception date, progressive development stages, research data and any experimental iterations all paint a picture of a verifiable timeline in your creation.
When collaborating, try to have shared resources that can both be accessed and documented, but clearly define the contributions and agreements (e.g., NDAs, IP assignments) to prevent ownership disputes. This internal log has a double purpose: a resource for patent applications but also evidence in the event of IP infringement litigation.
Steps for protecting your work
The journey from concept to market has a lot of paperwork and considerations. However, becoming lax on protecting your work is an oversight that could undo everything you’ve worked for, and it’s easy to get right from the outset than to do retrospectively. By establishing your digital presence with domain names and social media handles, you can a paper trail of evidence and work on applying for any trademarks or patents, which is a very lengthy process.
