Apr 07 2023 11 mins 1
I have heard this story many times: I came up with an idea for a product but did not bring it to market. Later I saw the product in the market selling very successfully.
SAFEGUARD YOUR INTELLECTUAL PROPERTY because it protects your unique ideas, inventions, and creative works legally. When your ideas are protected you can safely invest in them.
Intellectual property is property, like a house, a car, or a building, but there are different actions needed to ensure you hold the title.
Write down your brands, your secrets, and any products you have launched in the past 6 months.
Take 5 minutes for a mental exercise. Imagine you hired a CEO and they worked for your company for 3 years, and then you learn that they are leaving to go work for your competitor. What is the one thing you do not want your former CEO to take with him or use? Write this down - this knowledge is likely protectable intellectual property. If you are drawing a blank then here are some suggestions.
- Customer list (with the expiration date of all of your contracts!)
- Supplier list with negotiated prices
- Secret Recipe/process
- Marketing plan (details of where you find your dream clients and who they are)
- Business plan
- New design for a product
- Highly skilled employees that took you years to train
BIO:
Wayne Carroll is a highly experienced intellectual property lawyer with over 15 years of experience. He holds a Juris Doctor degree with a concentration in Intellectual Property Law from Suffolk University Law School, as well as an undergraduate degree in Electronic Engineering Technology from DeVry University. Wayne is the CEO and Attorney at Inspired Idea Solutions, LLC, a firm he founded in 2013, where he specializes in patent strategy, patent prosecution, trademark strategy and registration, and copyright litigation.
In addition to his legal work, Wayne is an Eagle Scout and actively volunteers with the Boy Scouts of America. He is also a proud father of six children and enjoys playing pickleball. Wayne's extensive experience and expertise in intellectual property law make him a highly respected attorney and a valuable asset to clients seeking protection for their intellectual property rights. Wayne can be reached at 480-741-2440 or [email protected]. You can also connect with Wayne on LinkedIn.
Schedule an appointment with Wayne Carroll for a strategy session on how to protect and leverage your intellectual property.
TAGS: Intellectual property, Patent strategy, Patent prosecution, Trademark strategy, Trademark registration, Protecting ideas, Idea safeguarding, Creative works protection, Legal protection, Business protection, Brand protection, Idea ownership, Idea monetization, Legal expertise, Entrepreneurship, Business strategy, Customer list, Supplier list, Secret recipe, Marketing plan, Business plan, New product design, Highly skilled employees, Intellectual property lawyer, Wayne Carroll, Strategy session
