Intangible Capital And IP Plan: File An Entitlement And Protect Your Innovations

Intellectual property rights are an integral part of companies’ intangible capital. As such, they must be properly exploited and sufficiently protected through specifically dedicated legal tools.

The interest of intellectual property for businesses

For companies, intellectual property and related rights are very valuable. They are the guarantors of their success, but also of their growth since they enter into the intangible capital of the company, and thus into its balance sheet.

Intellectual property

Intellectual property rights group together all the rights that protect the creations of the mind, such as industrial models, designs, inventions, or even artistic and literary works. Intellectual property can be broadly defined in two categories:

• Literary and artistic property is composed of related rights (performers, phonograms, audiovisual producers) and copyrights.
• Trademarks, patents, models, and designs are the most common types of industrial property. Other rights, such as plant varieties, semiconductor products, or topographies, are also mentioned in general.

The company’s interest in protecting intellectual property. It can be in a company’s interest to protect its intellectual property for several reasons.

Creating assets

Intellectual property, or intellectual property rights, occupies an important place in a company’s intangible capital. It makes it possible to transform something that is difficult to quantify into a tangible element, real capital, that then appears on the company’s balance sheet. When these elements are identified, they allow the company to acquire a form of operating monopoly for different durations and geographical areas. As a result, the company’s intangible investments are assured to be profitable.

Exclusive rights of use

Intellectual property rights are a very serious thing. Even when you’re only working as an essay writer, you have to consider it. It rights give the holder all rights of exploitation. Competitors and other third parties may not use this creation. In case of unlawful use of his intellectual property, the owner may take legal action to claim compensation for the damage caused to him. In other cases, he may initiate various measures, such as requesting the destruction of counterfeit materials or products, for example.

Differentiation

Every company’s growth is fueled by innovation. But it only makes sense if it is protected. Otherwise, competing companies can exploit it without limit and often at a lower cost. As a result, the inventor will find it impossible to monetize his idea’s research and development costs. Immediate replication has often had a detrimental effect on companies and their research and development policies.

From investors’ and customers’ viewpoints, innovation allows the organization to appear dynamic. This way demonstrates that it is forward-looking and capable of moving forward. Highlighting your difference only makes sense if the innovations that enable this differentiation are duly protected. Finally, protecting your intellectual property enables you to actively and effectively combat counterfeiting problems. Companies can then enforce their rights over the creations and innovations they produce.

Protecting intellectual property rights

To protect intellectual property and industrial property, it is possible to use all the tools available to companies. The creation of a real defensive shield enables companies to ensure that they can take advantage of their innovations under the best possible conditions and make the most of them.

Protection with legal deposits

Patent applications protect innovations of a technical nature. This then corresponds to a process or a product. The patented product must be new, susceptible to industrialization, and the result of an inventive step.

Trademark registrations refer to the name of companies, their products, or services. A sign, logo, or writing model may be part of it.

Design and model registrations can be national, community, or international. Depending on the conditions of the deposit method chosen, they can be very simple to deposit.

Coverage without legal deposit

The intellectual property code safeguards writers’ rights. The owner of a work can then determine the conditions under which it can be used during his lifetime, and his beneficiaries can do so up to seventy years after his death.

According to case law, unfair competition is classified into four categories: confusion, denigration, disorganization, or parasitism.

Community designs that have not been registered enjoy a protection period of three years after the first disclosure in Europe.

Intellectual property advice

Business creators should pay special attention to intellectual property. It is a very valuable asset for young companies and is the basis for ensuring their growth.

Make sure you own your intellectual property

Many players around a company intervene and participate in intellectual property. Innovation most often occurs at the beginning of the company’s creation. All these elements generate risk factors directly linked to intellectual property ownership. The company must imperatively be the real owner. To do so, it must follow several steps:

• A written agreement or a contribution in kind must allow the transfer of the intellectual property to the company prior to its incorporation.
• Employees will be subject to confidentiality, and the employment contracts of those related to research and development will include an inventive mission clause.
• Relations with subcontractors should be subject to a contractual framework that provides for the transfer of intellectual property to the company.
• Development contracts will be established with partners.

Choose several modes of protection

Each intellectual property may be subject to a specific mode of protection. Several tools are available to companies for this purpose:

• Patents: technical innovation.
• Copyright refers to intellectual works such as music, films, software, literature, and so on.
  Trademark: protects the name of the company, software, or a product or service.
• Designs: the appearance of products.
• Trade secrets: protection linked to non-disclosure.

To conclude

Intellectual property is a clear advantage for companies that decide to exploit it. But above all, they must protect it if they do not want to face losses and too much competition. To do so, they will have to make use of several tools and make sure that they are the owners of their creations and innovations.