News & Press: Business

When You List Your Company Assets―Don’t Miss the Most Valuable Ones.

Monday, February 22, 2016   (0 Comments)
Posted by: Tanya Holland

Every business comes up with ideas. Some solve internal problems, other become products for customers, and others fade as fast as they appeared. What happens when the person who came up with the idea decides to move on? Do you know what’s yours and what they can take with them? Who actually owns those ideas?


This is when your knowledge of intellectual property (IP) and how it all works can save you headaches and revenue. Determining ownership can be tricky in some situations, but there are some very basic rules to help you make sense of some situations easily. Some IP assets may be owned by the business by virtue of an employee/employer relationship, while other IP assets, regardless of employment status, require an assignment before they are owned by the business.

 

Once you have a comprehensive list of your company’s intellectual property, do you know how to protect it? There are tools out there with the sole purpose of keeping your IP safe. Registration of your IP rights with various state, federal and international governments can provide significant benefits to your business, including, in some instances, the right to prevent others from making, using, or selling your product, the exclusive right to reproduce and distribute your proprietary works such as software, and the exclusive right to use your brand across the nation and internationally.


For business owners, it’s important to understand what intangibles belong to your organization and what you are doing to keep them safe. If you are interested in learning more join Associated Industries as we welcome Dan Wadkins and John Nelson from Lee & Hayes, PLLC on March 16, 2016, for an insightful presentation of key intellectual property topics that every business should understand to thrive in this rapidly evolving economy.


Register to learn more> Intellectual Property Basics: Understanding the Most Important Asset Class in Today's Economy


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