Protect ideas?
Why it is important to think about property rights right from the start
Many companies develop exciting ideas, new products or designs every day, but the thought of the right intellectual property rights often goes unnoticed.
But what does it actually mean to protect an idea or invention?
This refers to protection against copying or imitating your product or design in terms of function, appearance, use, name, etc.
However, the further development of the idea, day-to-day operations and the thought that the idea or product is still in the development process often lead to this protection by a patent or trademark being the last step. The worthiness of protection is not sufficiently recognized or the idea is considered too late.
But it is precisely this hesitation that can lead to your competition gaining an advantage. By registering or protecting a similar product, other companies gain a head start, while it becomes more difficult to protect your own product or design.
The most common errors
Whether it is the thought that your own development is too specific for protection or that your own idea is not interesting enough for potential target groups. The truth is often that if your solution is of benefit to a real company, it may also be of interest to others. The result can be to secure a monopoly that is not only protected by property rights on the market, but can also bring entrepreneurial advantages.
Another aspect is the lack of processes and clearly defined responsibilities for recognizing and registering protectable ideas.
Who in the company decides whether protection should be checked?
Who ultimately assesses the need for protection?
Who manages granted property rights?
As a result, applying for an IP right quickly becomes an exhausting additional expense instead of a business advantage. Without the necessary strategic awareness, inventions and ideas quickly get stuck in the daily work routine and unused opportunities come to nothing.
It is not only important for management to be aware of what can be protected and, above all, what is worthy of protection; employees should also have a sense of what is worthy of protection. A lack of awareness leads to procrastination, sluggish processes and missed opportunities.
Strong property rights, strong opportunities on the market
The benefits that strong IP rights can bring to the market can be an incentive for greater awareness of protectability.
This is because an IP right not only protects the idea, product or design against imitation or copying, but also strengthens a company's own market position. For example, they provide information about the innovative strength of a company and its property value. They can promote interest among suitable partners for cooperation and can also be a strong advantage in the search for the right funding.¹
Our conclusion:
You don't need a finished product to start thinking about protection. Proactivity and a holistic strategy are important steps for companies to think about the right protection at an early stage alongside the development of an idea. With strategic IP consulting, you not only strengthen your ideas and inventions, but also the future viability of your company.
With our holistic advice and a clear strategy that is individually tailored to your company and your needs, we will accompany you on this journey.
Together, we ensure awareness of the need for protection, correct registration, secure protection and a long-term strategy to exploit your intellectual property rights commercially.
Source:
¹ https://www.dpma.de/patente/patentschutz/index.html