Shireen Smith (from YouTube) - Why is Failing to Capture Your Intellectual Property a Costly Problem?

Have you successfully captured your intellectual property? Why is failing to do so a costly problem? Let’s look in more detail at the disastrous consequences of failing to capture your IP.

Topics Discussed in this Episode:

• Why it’s not enough to simply register a trade mark
• Why it’s important to take great care of trade marks
• Why failing to address IP can result in lost opportunities
• What to do when you discover gaps in your trade mark protection

Key Takeaways:

• It is surprisingly easy to overlook the importance of IP in the early stages of the creative process. Some people believe that tasks like choosing a business name for a new product or service do not involve legal considerations, that they can pick any name, do a check on Google, and if nothing untoward is found, proceed to use the name.
• It’s actually trade marks that govern ownership rights in names, so it’s essential to search the trade mark registers. A Google search is not enough. Not everything you need to know about a name shows up on Google.  People risk losing everything overnight when they use names that don’t take account of registered trade marks of others.
• Online searching has its place but it’s no substitute for information focused on transforming ideas into reality. While there’s a wealth of information on the web, a crucial issue when it comes to intellectual property advice online is that much of what you find is generic, sometimes outdated, inaccurate, conflicting, and may vary depending on where you’re based.

Action Steps:

• If you’re an inventor, writer, coach, marketer, creative or entrepreneur, you need to know how to identify the various IP rights you’ll be creating as you turn ideas into reality. Some basic tools at your fingertips will help you take initial steps to protect IP like doing due diligence.
• When you have new ideas to implement, you’ll need to know the right actions to take, the right processes to use to protect IP that’s being created.
• If you discover gaps in your trade mark protection, find out how to address them with the help of education and DIY. And consult a lawyer if you have remaining questions.

Shireen said:

“The internet has revolutionised the way we look for information, entertainment, and even relationships… So it’s increasingly common for businesses to look for legal advice online, too.”

“If you don’t know what you don’t know, how can you search for it or know whether you’ve found out everything you need to know? ...You need to learn to do things properly if you’re going to do your own trademark registration.”

Thank you for listening!

If you have any questions, connect with me on your preferred social media platform. I’d love to help! And if you’ve learned from this series of podcasts, do consider leaving a review.

Links to my books and online courses:

• Books:
• Legally Branded
• Intellectual Property Revolution