Develop and Protect Your Ideas Globally

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Big companies spend tons of money to develop and protect ideas. But even service businesses and one-person shops have Intellectual Property (IP).  Trademarks, for example, are one of the most valuable assets of a business. Think Coca-Cola, PayPal and iPad, and you immediately think of a company, product, brand, experience, reputation, solution and public goodwill.

According to the U.S. Small Business Administration, small businesses receive nearly 15 times the number of patents per employee as larger companies.

So what are some things small businesses can do to establish, protect and cash in on IP assets?

Read more:  Even service businesses and one-person shops have IP

Do Your Competitors Cheat?

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What's this?  Cheat?  Who cheats?  Do you ever find that your competitors steal away your ideas or steal business by playing off other companies’ hard-earned brand reputation?

According to the U.S. Patent and Trademark Office, intellectual property theft steers nearly $250 billion away from U.S. companies each year. For small companies and startups, those lost revenues can be the difference between thriving and surviving.

How can entrepreneurs and small businesses protect their intellectual property rights, but also how they can protect themselves from getting sued for violating someone else’s IP rights?

David J. Marr and Jeff Van Winkle are both attorneys at the Detroit-based law firm Clark Hill PLC, which has 13 offices around the country and specializes in working with entrepreneurial companies.  Below is an interview they participated in with MiBiz.  Find out what they have to say on where small business owners should put their money when it comes to protecting intellectual property.

Small Business Guide:  Intellectual Property