Your business’s intellectual property is part of what makes it so unique and special. Without your IP, you wouldn’t have the products you have or the customer base that you’re working with.
You can take steps to protect your intellectual property against being discovered and used by competitors. The following three tips can help you avoid leaks that could threaten your business.
Don’t file a patent without the right support
The first thing to consider is how a patent could open up the opportunity for others to learn from you and take your intellectual property. While your patent does protect you, remember that it also gives directions on how a product or service can be made. A competitor could make a similar product or come up with a familiar service that is just different enough not to violate your patent but still threaten your business.
Limit who has access to your IP
Another helpful tip is to limit who has access to your intellectual property, so there is a lower risk of that property being exposed. Using noncompete and nondisclosure agreements may help, too.
Focus on tight IP controls in the office
Beyond just limiting access to your intellectual property, you need to build access controls that won’t allow the wrong people to see that information online or off. Did you know that around 81% of all system breaches are because of compromised credentials? Essentially, you need to protect your IP from internal and external threats. Good firewalls, virus protection software, strong passwords and other IT protections will help you keep any IP kept on your network safe.
These are three ways that you can protect your intellectual property. As your business grows, this information may become more and more important, so you need to take steps to limit who has access to it and to protect it against use by competitors. People will attempt to copy you and take advantage of what they learn when they work with you, but strong legal protections, contracts and other options can help you minimize the risk of a data breach or the loss of IP.