While we all implicitly understand the law as it relates to the theft of physical property such as cars, bikes or treasured possessions, for most people the same concepts, when applied to non-physical things like designs, words, ideas and concepts, are an anxiety-inducing minefield.
The fact is though that increasingly many businesses live or die by their so-called Intellectual Property, the ideas and expressions that makes their products and services unique in their market and desirable to their customers.
Indeed, protecting IP rights, for an increasing number of modern businesses, should be as important as budgeting, managing cash-flow or correctly filing in a tax return.
Failure to consider IP issues from the outset can be very costly indeed – perhaps even fatal to the future of your business.
If someone else has already protected their rights in the business area you want to work in then your business plan could already be dead in the water.
If your unprotected ideas can be easily replicated by an opportunist rival with deeper pockets then you’ll struggle to engage investors or gain market share.
Equally if your objective is to create to a business you can sell on to a heavyweight big-hitter somewhere down the line then you can only do so if your Intellectual Property is all yours to sell.
Without that exclusivity there could be very little left of value in your business and nothing to stop your would-be suitors from simply copying your formula without handing over a penny for the privilege.
If you need some advice on intellectual property protection or feel that someone may have infringed your copyright then please get in touch with our expert lawyers. In both cases we can help – before it is too late.
Intellectual Property Solicitors in Edinburgh, Wick and Aberdeen
If you need help turning round your company’s fortunes or bringing your business to an end, call us. We help clients in Edinburgh, Wick, Caithness, the Highlands, Inverness and throughout Scotland rescue their business.
To get in touch with us, click here or call us: Edinburgh 0131 526 3280 Wick 01955 604188