Let’s face it, intellectual property is not a mouthwatering topic when compared to white hot discussions about profit margins, ROI and the financial benefits of near-sourcing. Yet, neglecting to protect your intellectual property can lead your company straight into the rocks. For entrepreneurs, who usually lack the resources for protracted legal battles, protecting IP proves even more important. So what can you do to protect your valuable intellectual property?

Patents

Truthfully, the United State Patent Office has the reputation for being one of the most dysfunctional pieces of government. The waiting time for approval or rejection is measured in years, which can leave cutting edge technologies sad relics before the patent application even gets looked at, but it’s still something to consider. For all the hassle (several hundred hours of it) you can actually file for a patent yourself. If you are considering a patent, assess the product itself. Is it a technology or material that will find applications for decades to come, or it is novel twist that will likely move a lot of units for a year or two and then vanish? If it’s the former, go for the patent and start early.

Trademarks

Registered trademarks protect specific names or symbols, such as logos, from use by anyone other than the trademark holder. Businesses trademark not only business names, but the names of specific products as well. Trademark holders can sue anyone who infringes on their protected terms and phrases, which is especially useful for pirated products.

Copyright

Copyright is one of the trickier forms of IP protection because it’s automatic, no paperwork required, but it only applies to specific expressions of ideas, rather than to ideas themselves. So, if you’re Robert Kiyosaki, the actual text of your Rich Dad, Poor Dad books are protected by copyright, but not the conceptual material behind them. The “Rich Dad” brand, however, is protected by trademark. If you want to be especially cautious, though, you can register a copyright with the U.S. Copyright Office.

Non-Disclosure Agreements

NDAs often look draconian, but they provide entrepreneurs with much-needed protection from vengeful former employees and less-than-trustworthy associates. The NDA specifies the kind of information, such as trade secrets and other non-public business information, that an employee or vendor must have to fulfill their obligations, which cannot be shared for a specific period of time. If the employee or vendor breaks the agreement, you can sue them for damages.

IP protections aren’t simply a good idea; they are a crucial action in protecting the long-term viability of your business. Your ideas are often the core of your success. Take advantage of the processes that offer those ideas legal protections, and rest easy knowing that your intellectual property is safe. The information for this article was provided by the professionals at Carter West who specialize in corporate law and venture capital in Sacramento.