How do I use intellectual property to grow my business?
Stop infringing products from being imported in the market by requesting customs to seize them and—upon court decision confirming the infringement—destroy them. See also here.
Exclude competitors from using your proprietary innovations by obtaining a court ruling (i.e., an ‘injunction’) which orders the infringer to cease all acts of infringement (e.g. distributing infringing products) and refrain from them in the future. See also here.
Prevent competitors from commercialising products under similar marks that create confusion to consumers or take unfair advantage of your mark’s recognition and reputation. See also here.
Secure compensation for financial harm caused by an infringement of your IP by obtaining monetary damages in court. Depending on the jurisdiction, damages may typically take 3 forms: (a) reasonable royalty: the monetary compensation you would have accepted for authorising a third party to use your IP in a voluntary transaction, (b) lost profit: your loss in revenue and profit due to sales by the infringer, and (c) infringer’s profit: recover the profit gained by the infringer by infringing sales. See also here.
Enforce your IP rights against competitors that make unauthorised use (i.e., infringement) of your proprietary innovations. IP enables you to (a) exclude infringers by obtaining a court decision ordering the infringer to stop infringing your IP, and (b) gain monetary compensation for the financial harm caused by the infringement. See also here and here.
Exclude competitors from using your proprietary innovations without your authorisation. Prevent competitors from misappropriating your innovations and investment.
Use IP exclusivity to secure the necessary resources and time to develop and commercialise your idea.
Patents, copyrights and designs signal your business’s capabilities in innovation and creativity. Link the quality and innovation of your product/service with a strong brand image thanks to trademarks. See also here.
- IP is perceived as the protection of valuable intellectual assets. Customers and investors consider it very important for a young company to have strong IP. The larger the company, the greater the customers’ expectations for strong IP that will be properly defended. See also here.
- Build a strong brand image by investing in product quality and innovation. Create among consumers a strong association between your mark and business with high quality.
Leverage your IP assets to boost your bargaining power in negotiations with potential business partners and customers.
Pursue new opportunities for collaboration with business partners by combining complementary IP assets and resources, sharing risk, and penetrating new markets. See also here.
Earn revenue from licensing out your IP and reach new markets for your innovations by pooling together your IP and your licensees’ manufacturing capabilities. Gain access to other firms’ innovations by licensing in their IP, save R&D costs, and gain freedom-to-operate reducing legal risks and uncertainty. See also here and here.
Secure resources and funding to develop your innovative business ideas. Benefit from IP exclusivity and a strong reputation for innovation and creativity to attract private investment and credit. Gain access to a variety of public funding schemes available to innovative SMEs. See also here.
Reduce risks in the commercialisation of your innovations, increase your return-on-investment and enhance the value of your business. Attract investors and venture capital by establishing a strong potential for business growth. See also here.