An often-overlooked but important area of business and commercial law involves protecting your company's intellectual property. For many businesses based in Minnesota, intellectual property adds a great deal of value to the company. Allowing other parties to steal and to use your intellectual property can have a debilitating effect on your business.
Largely intangible, intellectual property encompasses many things that you cannot necessarily put your hands on. For example, your company logo is a form of this property that appears on letterheads, legal documents, advertising campaigns and even across the front of your business.
If another business owner takes your logo and makes slight modifications, they could use it to "steal" your clientele. Because the two logos are so similar, customers and clients may think they are doing business with or purchasing something from your company when they are not. We have seen this happen in our law practice.
What can you do to protect your company's intellectual property? The best way to accomplish such a goal is to come up with a legal protection plan. We recommend consulting with a law firm experienced in handling business and commercial law issues. Your attorney will help you take stock of your intellectual property and then help you put legal protections in place. Examples include acquiring trademarks, patents and copyrights as well as exploring ways to preserve your trade secrets.
Protecting your intellectual property is just one way a business and commercial law attorney helps business owners. We welcome all entrepreneurs and business owners to continue looking over our website to find more information about protecting your business in the face of legal adversity.