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How to Protect Business Ideas: IP Perspective

How to Protect Business Ideas: IP Perspective

Businesses across the globe are regulated by different laws and regulations by govt. But business ideas are not governed by specific law or regulations protecting them is really challenging. Here idea means a concept that is there only in mind.

Patent: Idea that only exists in mind is not patentable and disclosing idea in detail even loose the future patent protection.

Copyright: It protects the expression and not idea thus unless business idea into fixed form like writing, photo or graphics is not protected under copyright law.

Trademark: Trademark protection is available to goods or services that are distinguishable but for idea it is not possible to avail.

Very less recourses under intellectual property rights law in case idea is stolen. Then how to protect the ideas?

Confidential and Proprietary Information. First and foremost, which is known to most entrepreneurs the

dangers of telling others their great ideas to others and communicating to others under the terms of confidential disclosure.Confidential information is one form of intellectual property.Singing Confidentiality Agreement / Non-Disclosure Agreement / Secrecy Agreement prior disclosing the idea if it is having commercial value and not in the public domain. Handy in recourse to legal action if your idea is stolen but the catch is proving commercial value and damage you suffered.

It's always better to be mindful of disclosure under confidentiality obligations under the signing NDA/ CDA as lawsuits are time consuming and expensive coupled with difficulty in proving before the court.

Disclaimer: The information provided under this website is solely available for informational purposes only, should not be interpreted as soliciting or advertisement. We are not liable for any consequence of any action taken by the user relying on material / information provided under this website. It’s not legal opinion in cases you have any legal issues then in all those cases you must seek independent legal advice.

* Write up by Team Purple Pursuits, for more details you can reach to us [email protected]

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