We noted in a recent blog post three specific concerns that confront many business principals as they work hard to establish a creative and profitable enterprise.
One obvious and fundamental concern for many entrepreneurs that we stressed in our September 10 entry is the need to raise capital required to fuel business success. Yet another consideration focuses centrally on the optimal form that a business should take. Some business partners envision a partnership as being the ideal vehicle for their enterprise. Alternatively, a limited-liability company, family-owned business or corporation might be deemed as the perfect model for success.
In tandem with these concerns is often a strong focus on safeguarding a company’s business ideas and creations, which we noted in the above-cited post can seem to be “a difficult and expensive prospect” for many new business owners.
That isn’t automatically the case, though, as is pointed out in a recent media article focusing on the protection of intellectual property. That overview refers to a number of “cost-effective and practical tactics a small business can implement to discourage IP infringement.”
A proven business attorney can of course centrally assist with that, helping to ensure that company principals have taken reasonable steps to safeguard their intellectual property under all circumstances. That property becomes potentially vulnerable to infringement under many scenarios that must be identified and protected against.
For example, business partners sometimes discuss their plans with potential joint-venture partners, show manufacturing processes to clients, and sketch out new designs and schematics for investors.
There is a vulnerability associated with all those and related activities that can be protected against through the execution of non-disclosure agreements, contractual language that clearly addresses IP ownership, timely written cease-and-desist letters and other legal strategies.
As the above-cited article duly points out, intellectual property is often a core and lucrative asset for a company.
As such, it is well worth protecting.