In a recent article in the Roanoke Times, I discussed with reporter Yann Rannaivo the first steps a startup business should take to protect itself from legal liability and secure legal protection for its intellectual property. This blog posts expounds on the brief thoughts I shared in the Roanoke Times by providing further detail on those key first steps a technology business–or any startup–should pursue to protect its legal interests.
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Many start ups begin with limited finances, forcing them to consider what they can and cannot afford at any given stage in development. While most small businesses and start ups question whether they can afford to pursue trademark registration as part of their brand development, what they cannot afford is to wind up on the wrong side of litigation for failing to fully explore on whose turf they may inadvertently be treading. It is easy for businesses of all sizes, whether starting up, re-branding, or expanding their growth into other areas of development, to unwittingly adopt a brand already in use by another business. Learning what, or who, is in a name is a step in the start up process that most cannot afford to skip.
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We have all heard of trade secrets–things like the formula for Coca-Cola, WD-40, or the filling of Twinkies. Trade secrets are much more than recipes, however. They include things like the New York Times methodology for what constitutes a best-seller, which the company intentionally protects as a trade secret. But what qualifies as a trade secret? How “secret” does it have to be? Your company or business venture may have, and may have already lost, a number of trade secrets without even knowing it. Learning what they are, how to protect them, and their value can bring big benefits to your business.
Continue reading “Who Wants (or Needs) To Know? How to Protect Your Trade Secrets” »