Us businesses are particularly at a disadvantage when it comes to the length of patent protection. This is due to to the lack of knowledge, expertise and resources which are necessary to prevent theft of ideas and products. Small businesses typically do not have the financial means to fully protect themselves from IP theft or pursue the resources when such theft occurs.
Why Should I Protect My Property?
Piracy and theft pose a huge and serious threat to all American businesses. Approximately 25 percent of internet traffic is used to consume content which is infringed. Nearly one third of all music equipment and software products are assumed to be fake. Exporters face unfair competition with health and safety risks from counterfeit products entering their property.
How Important is it to Perform Patent Filing?
Roughly seven to eight percent of the entire world trade per year involves counterfeit goods. Patent licensing can eliminate much of this. IP theft poses a huge theft risk for many businesses. The major industries affected by IP theft include pharmaceutical, manufacturing, technology and software industries. A patent licensing agreement and a patent process can help secure companies in these industries protect themselves from piracy and theft.
Why is it Important for Small Businesses?
It is difficult to determine the extent of possible property damage off hand without knowing the specific intellectual property services offered. Majority of small businesses will benefit from any for or any length patent protection. Majority of business owners may lack the knowledge of ways to protect intellectual property or the length of patent protection. Speaking with an intellectual property rights lawyer can help your business decide which needs best suits them.
Many businesses may not be involved in overseas operations, therefore they may not see the need for copyright protection. Copyright protection is valuable for majority of businesses no matter how small. Copyright laws protect those that are involved in the work, to protect the creators of the work and compensate them accordingly.