For small businesses, intellectual property protection is crucial

No matter where you are located, starting a new small business is a lot of work. You have to manage supplies, move products and calculate payroll, all while matching experienced competitors and dealing with the day-to-day fluctuations of the market. A major mistake in any one of these areas can seriously damage a small business, and it is no surprise that owners spend so much time focusing on them.

Fewer, however, put time into protecting their intellectual property. This is a shame, since an attack from a shrewd patent troll has the potential to completely destroy a business before it even gets off the ground.

A recent post on Business 2 Community offers some tips for small business owners who want to be proactive in protecting themselves from legal action.

First, it is important to be preventative, even though no lawsuit may be on the horizon. The easiest way to do that is to visit the U.S. Patent and Trademark Office and search for any patents or trademarks for which you had considered filing. Determining which products and ideas have already been protected will go a long way toward deflecting future legal battles.

Still, not every lawsuit can be predicted. Though it may be hard for a lot of small business owners to imagine yet another expense, the cost of intellectual property insurance pales in comparison to what some have been forced to pay after losing a lawsuit.

If you are unsure of what to do going forward, your best bet is to consult with a Phoenix business attorney who has experience with intellectual property law. Every patent troll must be handled differently—some can simply be settled with out of court, while others may demand a protracted court battle before they slink away. An experienced business attorney can help you make the best decision for your fledgling enterprise.

Categorised in: Intellectual Property Law

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