Does a Small Business Need an Intellectual Property Lawyer?

Intellectual Property in the News Intellectual property is a subject that makes the news frequently these days. Whether it's Apple versus Samsung, or a case with a much lower profile, courtrooms are seeing an increase in intellectual property cases. The fact is business success today depends heavily on intellectual property, including branding and trademarks. If you're in business, you have a stake in intellectual property rights, whether you know it or not. Startup Businesses and Intellectual Property Many successful startups today are built on software innovations, but even if your new business isn't tech-related, you owe it to yourself and your investors to have an intellectual property lawyer review your business methods to determine whether any are patentable. There are time limits for filing patents, and the process can be expensive. However, in some cases obtaining a patent can be critical to your success. Speaking with an intellectual property attorney early in the life of your business can be a wise move. The "Useful, Concrete, and Tangible" Definition Before 1998, the U.S. Patent and Trademark Office didn't grant patents for business methods, but they do now. Today, with new online and software companies coming up with completely new ways of doing business, this is an important protection. Patent laws protect any method as long as the method creates a "useful, concrete, and tangible" result. An example of a patented business method would be Amazon's single-click ordering system. Costs of Patenting Business Methods The cost of obtaining a patent must be weighed against the benefits. While you can obtain a patent without an intellectual property attorney, the time and effort involved can be prohibitive for someone with a business to run. With a patent attorney, costs can run to several thousand dollars. However, speaking with an attorney is highly advisable if you think you have a business method to patent. Protecting Your Intellectual Property If you own a business built on your own intellectual property, it's important that you learn the value of things like non-disclosure agreements and methods to search out patent and copyright infringers. Working with a lawyer from the beginning is the best way to ensure that your intellectual property rights are protected.