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Intellectual property law is designed to protect ideas and unique products from the threat of predatory competition. These laws can give you a legal remedy if someone ever steals your intellectual property, but it’s also important to have a protection strategy in place.
How can you better protect your intellectual property?
Hire a Trade Secret Expert
First, consider a trade secret expert. Trade secret experts are familiar not only with trade secrets, but other aspects of intellectual property law. They’re intimately familiar with the laws and regulations protecting intellectual property, and they can help you identify opportunities to improve the protection measures you have in place.
File Your Paperwork
No matter what, you’ll need to file your paperwork. There are many different types of intellectual property laws, and there are many different types of intellectual property. Depending on where you live, what you’re making, and how you want to protect it, you may need to file for copyrights, patents, trademarks, trade secrets, and more.
Keep in mind that every country operates differently with respect to intellectual property, so if you operate internationally, you may need to conform to different standards and prepare paperwork for different governments and organizations.
Use Non-Disclosure Agreements (NDAs)
Non-disclosure agreements (NDAs) are legal documents designed to protect people from disclosing sensitive information. If constructed adequately, they can preclude your employees, clients, and other contacts from talking about certain aspects of your business. Just make sure you consult with the lawyer so you can guarantee your NDAs are both legal and enforceable.
Hire Intelligently
Employees are arguably your biggest liability when it comes to intellectual property protection. Employees who are lax with security standards are more likely to unintentionally leak information. Corporate spies might be actively trying to penetrate your organization. If you’re thorough in your due diligence when hiring new people, you’ll be much more likely to find honest, loyal, attentive candidates who do what they can to protect the organization.
Segment Information and Knowledge in Your Business
Do your best to segment access to information and knowledge within your business. There’s no reason why everyone in your organization should have access to every detail related to your intellectual property. This way, if any single employee is compromised in any way, there’s a limit to how much damage it can do.
Implement Stronger Security Measures
It’s also important to implement stronger security measures within your organization.
Physical security: First, pay attention to your physical security. If you have a physical business, no one should be able to enter it without explicit authorization.
Cybersecurity: You also need a sound cybersecurity strategy. Layers of security, such as firewalls and VPNs, can keep your information, communications, and important assets secure.
Information storage: Be wary of where and how you store information related to your intellectual property. If it’s easy to access, it’s going to be easy to steal. Make sure you use highly secure storage methods and update your processes and systems when appropriate.
User access controls: You should also employ user access controls. In other words, you should have precise control over who has access to what and when. This will make it easier for you to silo and segment pieces of important information, as well as mitigate the potential damage if any single user account is breached.
Passwords and credentials: One of the most important security measures to implement is related to passwords and login credentials. You need to make sure that everyone in your organization is using strong passwords, and different passwords for each app or system. This single measure greatly reduces the chances of a breach, and it’s relatively easy to enforce. While you’re at it, enable multifactor authentication across your organization.
Social engineering: Most people imagine the worst security breaches as brute force attacks, but it’s even more common to deal with the subtle art of social engineering. Make sure your employees are aware of social engineering and that they’re trained to guard against it.
Watch Your Competitors
Keep a close eye on your competitors and rivals in the industry. Pay especially close attention if someone has a similar product or service to yours. If you notice anything specific to your brand or product emerging in the brand or product of a competitor, take note.
Document and Investigate Discoveries
Along these lines, document and investigate any discoveries that you make. Do your due diligence to determine whether your intellectual property rights have been infringed and be prepared to take legal action if they have.
Intellectual property law is complicated, but it’s something you can master if you’re willing to invest in it. The more prudent and attentive you are, the more likely you’ll be to keep your trade secrets a secret.
Featured Image by Markus Winkler on Unsplash
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