2023 is nearing its sunset, and with it comes the time for reflection and intellectual property resolutions. Yet, while most resolutions fade with the January frost, safeguarding your businesses intellectual property deserves steadfast commitment. Intellectual property protection protects your bussinesses most valuable assets – its ideas, innovations, and tangible expressions of creativity. Think of intellectual property protection as a shield, if properly designed it will allow you to reap the benefits of your years of hard work and investment.
According to the USPTO and the OCE, industries in the United States that intensively use IP accounted for 41% of domestic economic activity, or output, in 2019. That year, the IP-intensive industries directly accounted for more than 47 million U.S. jobs. In addition to these jobs, IP-intensive industries supported an additional 15.5 million jobs in other industries that supply them intermediate goods and services. In total, the IP-intensive industries supported 62.5 million U.S. jobs in 2019, or 44% of employment. See Report. In comparison to workers in non-IP industries, workers in IP industries are more likely to earn higher wages, with the highest earnings in the copyright-intensive industries, followed by earnings in the utility patent-intensive industries, design patent-intensive industries, and the trademark-intensive industries.
Because IP can be so important to a business and its long term success, we at the Intellectual Property Center believe 2024 should be your year of innovation. And that starts with building an impregnable IP fortress. To help you develop an successful IP strategy for 2024, here are the top ten intellectual property resolutions to help propel your business into the new year:
IP Resolution #1: Unmask Your Innovation.
In the whirlwind of creativity, ideas can blur. Take stock of your inventions, creative expressions, brands and business processes. Jot them down, sketch them out, or record them – document everything. This creates a timestamp and will provide support to help with any later claims of infringement. In addition to conducting a survey, it may help to determine the value of the innovation. You should consider conducting an IP Valuation of your companies innovation.
IP Resolution #2: Befriend the Trademark Fairy.
Is your brand name catchy enough to be trademarked? Does your logo spark instant recognition with your customers? Don’t let these valuable assets go unprotected. The Intellectual Property Center can help you obtain a trademark and guide you through the trademark registration process, ensuring your brand enjoys exclusive rights in the marketplace for years to come.
IP Resolution #3: Copyright the Muse’s Kiss.
From original photos, songs, videos, novels, software even business documents, these can all qualify as creative works protectable through copyright. Are they valuable? If so, they deserve copyright protection. Register your works to deter copycats and establish clear ownership. Remember, copyright isn’t limited to written works; it extends to music, art, videos, photographs, and even choreography.
IP Resolution #4: Patent Your Path to Progress.
An invention has the potential to revolutionize the market. Did you create something which solves a problem because something wasn’t already available? If so, you may have an invention worthy of a patent. If your invention was not publicly known for more than a year, you should consider securing a patent for your invention. A patent grants you exclusive rights to manufacture, use, and sell your invention for a limited period. A patent attorney can help you navigate the complex patent application process and help you secure strong patent protection.
IP Resolution #5: Trade Secrets: Whispers, Not Shouts.
Some innovations thrive in the shadows. If your competitive edge lies in confidential information, like recipes or manufacturing processes, implement robust trade secret protection measures. Remember, even verbal disclosures to unauthorized individuals can jeopardize your trade secrets.
IP Resolution #6: Legally License Your Brilliance.
Sometimes, sharing is caring (and profitable!). Licensing your intellectual property can open doors to new markets and revenue streams. We can help you craft strong licensing agreements that help you leverage your intellectual property while protecting your rights to build mutually beneficial partnerships.
IP Resolution #7: Stay Vigilant: Guard Your Gates.
Intellectual property infringement can lurk around every corner. Regularly monitor the market for potential copycats and be proactive in addressing any infringements. Contact us right away if you found or have been accused of using someone else’ intellectual property. Remember, early intervention can save you time, money, and heartache.
IP Resolution #8: Invest in IP Education.
Knowledge is power, especially when it comes to your intellectual property. We can assist your business by providing workshops, webinars, or a seminar to help your business stay updated on the latest IP trends and legal developments. The more you know, the better you can protect your innovations.
IP Resolution #9: Partner with Your IP Guardian Angel.
Don’t go it alone in the labyrinthine world of intellectual property law. Choose a trusted legal partner like Intellectual Property Center to guide you through every step of the process. From patent applications to copyright litigation, we’ll be your IP champion, ensuring your creativity gets the protection it deserves.
IP Resolution #10: Celebrate Your Innovation!
Innovation is a journey, not a destination. Take a moment to celebrate your accomplishments, big and small. Every invention, copyrighted work, and registered trademark is a testament to your ingenuity and hard work. Let your IP fuel your 2024 journey, and remember, we are here to assist you and cheer you on every step of the way.
Make 2024 the year your intellectual property shines. Embrace these intellectual property resolutions, and watch your creativity blossom into a protected empire of innovation. Happy New Year, and may your intellectual fire burn bright!
Happy New Year
P.S. If you have any questions just reach out to use for a free phone consultation to discuss your specific IP needs and kickstart your resolutions!