Your IP (intellectual property) is one of the most valuable assets that your business has. IP is essentially what makes your business unique, and it covers everything from your business name, logo, and the innovative processes you use to make money.
The recognition and legal protection of your IP will have significant commercial consequences for your business. Intellectual property investigations are an extremely useful mechanism for ensuring that IP breaches are identified and quickly addressed. They can prove essential in helping you minimise financial loss due to issues such as the fraudulent use of your brand identity to sell their own products/services or claiming ownership of a system that you innovated.
In essence, protecting your IP is about stopping other parties from stealing what is rightfully yours. Engaging professional intellectual property investigations is one of the best ways to remain vigilant against breaches of your trademark.
Let’s take a look at 3 reasons that you should protect your IP by hiring intellectual property investigation services.
Keeping your trademark protected
Of course, the most direct utility of using intellectual property investigations is that they help to protect your trademark from theft and misuse. Your trademark is what identifies you as a unique business identity, and when someone else uses it fraudulently, they can fool honest customers into doing business with them and damage your reputation in the process.
This is why trademark registration in Australia is so important once it’s commercial viability is established. Being complacent with your IP will invite others to take advantage.
Professional intellectual property investigations can perform probes into trademark issues for your firm to determine where, when, and how infringement is taking place. They can then translate findings into a statutory declaration or affidavit.
Keeping your unique process protected
Sometimes IP infringement is not as obvious as someone else using your logo – they may be copying a unique process that you have patented. While applying for these kinds of patents can be difficult, if granted then you need to do your best to protect it from copycats, and one of the best ways to do this is to hire an IP lawyer who can conduct professional intellectual property investigations.
Getting peace of mind with professional help
The main reason you would hire a professional practitioner of intellectual property investigations is that they have the necessary skills and expertise to get the job done. If you are not an expert in IP law or how to conduct a probe into potential misuse of your IP, then you run the risk of making mistakes that can leave you worse off than when you started.
There’s no doubt that intellectual property investigations need to be performed with a high degree of tact and accuracy. You need a seasoned professional on your side who has vast experience performing this kind of work and will get you the fastest possible results.
Time is money, so while hiring a provider of intellectual property investigations might have an upfront cost, the cost of imperfect or delayed action can be much greater. You should not hesitate to hire this kind of professional if there is good evidence to suggest that some part of your IP is being infringed upon.
When you hire them, and they get started, you will instantly feel a sense of relief that the problem is in good hands and will be resolved promptly. The peace of mind that this gives you cannot be undervalued, especially when you try to focus on the other parts of your business that require your direct attention.
There you have it, 3 reasons you should protect your IP with intellectual property investigations.