Adapting is a necessary part of running a business. Whether responding to new legal landscapes, market climates or technology, a startup simply cannot survive unless its leaders learn new, innovative ways to protect its intellectual property. Business owners and entrepreneurs in Georgia should be certain they are ready for this task.
Intellectual property needs to be clearly defined before it can be protected. Anything that provides a competitive edge to a startup is usually considered intellectual property, including things like branding, written materials and artistic creations. Inventions that are would not be obvious to others and innovative business methodologies often fall under intellectual property as well.
The method by which one protects intellectual property will depend on what that property is. For example, a startup can secure a unique business process as a trade secret, but a patent would probably be more appropriate for an invention. There are advantages to both of these protections. Patents generally add to the valuation of a startup and can help attract investors, but trade secrets are easier to put into action. Both methods have drawbacks as well, so it is necessary to weigh those against positives.
Innovative ideas help drive startups in Georgia, but protecting these new ideas and inventions is essential for success. A startup would likely lose its competitive edge if its trade secrets were made public knowledge without any proper protections. Securing intellectual property should be a priority for all startups, and it may be useful to seek guidance when unsure of how to proceed.
