Why You Need An Intellectual Property Lawyer On Your Side

These days, most companies will have some kind of intangible asset (meaning it can be seen but not touched) that they have claimed ownership of, such as a trademark, patent, or copyright. As with any other asset you own, they must be properly managed and cared for to ensure that your rights have not been violated. To help you do this, you need the assistance of an intellectual property attorney.

Protection

This is the number one reason many companies seek legal representation. Since intellectual property is not a physical object that can be touched and felt, it is very easy for thieves to copy it and claim it as their own. An attorney will be able to keep an eye on your property, making sure it is not used without your permission.

Profit

Many companies do not know that they can make money from their intellectual property. In manufacturing, for example, it may be cheaper to license another company’s patent than to try to replicate your own processes. If you were to sell or lease your assets this way, you can make a good profit.

Maintenance

Did you know that you will only have exclusive rights to your property for a certain period of time? To ensure that your rights remain intact, you will need to pay the fees and resubmit the paperwork every few years. An intellectual property attorney will be able to keep track of these time limits and make sure they are filed in a timely manner.

Acquisition

It is also possible to acquire patents and other properties when they expire for the exclusive use of your company and those to whom you decide to lease it. Your attorney will be the best person to help you achieve this, as they will be able to know when the property is about to expire and prepare you to acquire it as soon as it is available.

As you can see, managing your assets is not the simple task that it may seem to the untrained eye. To ensure that your property is properly protected and that there is no possibility of someone else using it illegally, you should retain the services of a reputable intellectual property attorney. There are actually a number of ways they can help you, both now and in the future.

Leave a Reply

Your email address will not be published. Required fields are marked *