How, When and Why should you register your Intellectual Property?
- July 19, 2021
- Posted by: axiom_admin
Some trivia on the most important but often ignored aspect of your business!
Well, it may be ideal to say that ‘Business, as a field is subjected to a lot of change and revolution’. With every dawn, there is a new scope for innovation and it is now then ever before, businesses secure their Intellectual Property to safeguard their business. Did you know that Intellectual Property can actually elevate your business image and status nationally and internationally? And, you also get a better business strategic ranking amongst your competitors. If you are in the process of creating your very own Intellectual Property or confused on how to proceed with registering your IP, then this article is for you. Read more to find out how Axiom Mark’s Business Consultants clearly digress How, When and Why should you register your IP?
Let’s start with the Why?
Why should you register your Intellectual Property?
Most Entrepreneurs, even after years of running their business, do not realize the importance of registering their Intellectual Property legally. We will now look at some strong points which will give you powerful insights on registering your Intellectual Property. A registered Intellectual Property
- Enhances your Brand Recognition
- Gives you a Unique Advantage among Competitors
- Improves the Credibility of your business
- Gives you a much deserving Pride that comes along with the recognition of your ideas and work.
- Draws the attention of Potential Investors for your business.
- Facilitates Mergers, Acquisitions and Collaborations.
- Gives you protection against Counterfeiting.
When should you register your Intellectual Property?
If you have still not registered your Intellectual Property, ‘now’ is a good time to do it. There is no fixed phase in the business cycle to register your Intellectual Property. When you create a concept or idea, be it a logo or an innovative retail product, it is important to protect it from potential duplications and unethical usage. It might save you the time and efforts if you register your Intellectual Property at the inception of your idea itself, in protecting your intangible assets that may be integral to your core business and long term visionagainst infringement.
How should you register your Intellectual Property?
There are a number of ways of registering your Intellectual Property, however the primary difference is the demographic location or the country, where you register your Intellectual Property. Intellectual Property Rights is governed by various national and International regulations based on the product, service and the local norms. However, Axiom Mark’s Intellectual Property experts put together the key steps in registering your Intellectual Property as follows.
1. Educate yourself on Intellectual Property: Intellectual property can be registered as Copyrights, Patents, Trademarks and Industrial Designs. Research and read about what is Intellectual Property, Under What Category your Intellectual Property can be registered, the local government’s regulations on Copyrights protections etc. Consult an expert at Axiom Mark to learn and educate yourself on Intellectual Property.
2. Make sure your idea is unique: Protecting a potential idea could be very exciting but it is imperative for businesses to understand that your idea or product is unique and has not been already implemented. It is wise to do a world wide search on patents to make sure your idea has already not been registered. Axiom Mark’s Business Consultants can help you refine your search in UAE.
3. Document your ideas clearly: Record your ideas with complete details clearly. Ensuring you have detailed documentation on your ideas, designs or drawings can help in the registration process and also acts as a solid proof for any copyrights infringement by any competitors. Also, make sure all your information is dated to prove any dispute regarding the time of working.
4. Invest on Intellectual Property: Yes, the process of registering your Intellectual Property is time consuming and involves a cost. However, it is an investment on the most precious asset of your company, your ideas and it deserves the investment that is put into it for future benefits.
5. Apply for an Intellectual Property based on the country of your operations: Once you make sure, you have decided what kind of Intellectual Property you want to register. Copyrights, Trademark or Patent and detailed it in a clear document, it is important to decide, what kind of patent you need, nationally, based on the country of your operations or globally. Axiom Mark’s Business Consultants can guide you through the various norms in UAE and help in a hassle free Intellectual Property registration.