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UK Intellectual Property Rights – 8 Simple Rules
If you’ve read the other material on our website on intellectual property you should have a fair idea of how you can benefit from intellectual property and why it is important for you and your business to look after your IP rights. You should have some knowledge of which areas you may need to look into in more depth. Going forward, just follow some simple rules...
Rule 1
Treat your IP as a business asset with a real financial value.
Rule 2
Protect your IP as you would any of your other assets.
Rule 3
Keep a look out for infringers of your IP – they can profit from your hard work and reduce your return from it. Be prepared, as a last resort, to enforce your rights by taking legal action if you cannot sort out a dispute informally.
Rule 4
Be careful to avoid infringing the intellectual property rights of others.
Rule 5
Understand the different types of IP and research which ones apply to you and make full use of the IP system.
Rule 6
Get specialist independent, legal, financial and business IP advice when necessary. Don’t leave it too late.
Rule 7
Communicate to get the best from your product or service. Be an information gatherer! But remember to keep your ideas confidential until they are fully protected.
Rule 8
Be prepared to make your IP work for you. Remember that you could profit by selling or licensing your IP as well as producing a product or providing a service yourself.
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