Intellectual property (IP) refers to creations of the mind that have commercial value and can be legally protected. This includes inventions, literary and artistic works, designs and symbols, and names used in commerce.
IP rights provide the owner with exclusive rights to control the use and distribution of their creations. Understanding how to leverage your IP and intangible assets (IA) is therefore important for business’ continued growth and expansion.
Whether you are a budding entrepreneur, a start-up, a SME or an MNC, GoBusiness IP Grow is here to help you with your IA/IP needs. Browse our comprehensive suite of IA/IP service directories, get personalised advice and recommendations with our e-Advisers, and explore a wide range of useful resources. With GoBusiness IP Grow, you can maximise the value of your IP and IA for your enterprise. Read on to learn more.
By protecting your business’ IP, you can prevent others from profiting from your ideas and ensure that your business is fairly compensated for its innovation.
Competitive advantage: Protecting your IP can prevent competitors from copying or imitating your products or services, which can help maintain market share and profitability.
Revenue generation: Licensing or selling the rights to use business’ IP can be a valuable source of income for businesses.
Brand protection: Trade marks and trade secrets can help protect brand identity and reputation, which can be critical for businesses that rely on their brand recognition to attract and retain customers.
Legal protection: IP can provide legal protection for businesses, including the ability to sue for infringement and the right to defend against claims of infringement. This can help businesses enforce their rights and avoid costly legal disputes.
As a business, ignoring IP management can lead to legal liabilities, including the risk of being sued for infringement or for using someone else’s IP without permission. Legal disputes can be costly and time-consuming. They can result in significant damage to your finances and reputation, or even your business’ ability to operate.
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