No. 21

Why do I need to protect my Intellectual Property?

The right IP advice is crucial to your business

Experience has taught me that a lot of SME’s get anxious when taking their first foray into the wonderful world of patents, design protection, copyright and trade marks. So how can this anxiety be overcome, given that Intellectual Property (IP) rights play such a crucial part in a company’s innovations, brand development or new product strategy?

Why do I need to protect my IP

Recent research has shown that there is a tendency for SME’s to go to their accountants for that first IP advice, as they know it will require some level of investment. They also want to better understand things like government grants, R&D tax relief or the potential for external funding.

The next step is usually contacting their existing legal advisors, who will hopefully explain the importance of speaking to a qualified Patent or Trade Mark Attorney, particularly one who specialises in their specific industry or sector.

Get good advice early

Our IP Attorneys come from a broad range of scientific and industry backgrounds and are excellent listeners, analysts and communicators. They’ll work with you to create and develop your IP brief and strategy, to ensure you get a cost-effective, relevant and professional response. IP Attorneys are expert at teasing out the relevant information they need to identify everything that your IP rights should cover and they’ll provide you with a robust plan to ensure your IP protection adds value to your business and helps put your innovation ahead of the competition.

The key to any successful IP strategy is to get this good advice early, before you fully commit to a plan, project or further financial investment. You have to make sure you fully understand both the potential for your innovation or new product and, just as importantly, the limitations that it may have.

Get In Touch!

If you have any further questions or would like to protect your IP, please contact Kevin Toner.

Kevin Toner
Head of Business Development – UK and Europe

Find us on Twitter using @Murgitroyd.

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