Intellectual property lawyers focus on helping you protect and profit from your ideas and creations.
Intellectual property, or IP, plays a huge role in the United States economy. According to a report by the U.S. Commerce Department in 2016, IP-intensive industries account for 38.2%, or $6 trillion, of the United States? gross domestic product (GDP) and support at least 45 million U.S. jobs.
In other words, there is a lot of money at stake when it comes to intellectual property. So it is important that you take the right steps to protect yours.
An experienced IP lawyer can advise you on the best way to preserve your intellectual property rights and how to use them to grow your business.
If you want to learn more about what an intellectual property lawyer does, keep reading.?
What Does an IP Lawyer Do?
An intellectual property lawyer can advise you on anything related to intellectual property. Common examples of intellectual property include:
- Client lists,
- Photographs and video,
- Books and other written material,
- Secret recipes or formulas,
- Product or company names,
- Unique catchphrases, and
An IP lawyer can help you identify the type of protection you need for your intellectual property. They can also help you properly register your intellectual property and enforce your rights against infringement.
When Should You Consult an Intellectual Property Attorney?
Any time you have a question relating to intellectual property, you can rely on an experienced IP lawyer to advise you. However, there are a few specific situations when an intellectual property attorney will be most helpful.
You Want to Protect Your Intellectual Property
Intellectual property protection falls into four main categories: patent, trademark, copyright, and trade secrets. Sometimes you may need more than one type of protection for your intellectual property. In other situations, you may need to choose the type of protection that makes the most sense for your needs.
An IP lawyer will advise you on how to protect your intellectual property in a manner that furthers your individual goals. They can also make sure you correctly register your IP and put appropriate procedures in place to preserve your rights.
You Want to Stop Someone Else from Using Your Intellectual Property
If someone infringes on your intellectual property rights, it is important to take prompt action. In some cases, sleeping on your rights can weaken or bar your IP claim. Additionally, allowing IP violations to go unchallenged can cost you licensing revenue, cut into your market share, or reduce the value of your product.
Your attorney may start by asking the infringer to stop using your IP. If they refuse, then your attorney can file a lawsuit and enforce your rights in court.
You Want to License Your Intellectual Property
One of the ways to create revenue from your intellectual property is by licensing it to others. For example, a website might pay you a fee to use a photograph you took. Or you can sell a license to use software on a limited number of devices. Another way is to license your patent.
Licensing your intellectual property can involve complicated agreements that define your rights and obligations as well as those of the licensee. Important terms may include:
- Limitations on how the licensee can use the IP;
- Whether the rights granted to the licensee are exclusive;
- Whether the licensee can modify or improve on the IP;
- The compensation that will be paid for the license;
- Whether the license can be assigned;
- Requirements to maintain the license; and
- Remedies for violating the agreement.
It is important to have an attorney draft or review the terms of any licensing agreement. Your attorney can help you negotiate favorable terms and understand how the agreement will affect you.
What Does an Intellectual Property Lawyer Do for You?
When you hire an intellectual property lawyer at The Polasek Law Firm, you can feel confident that your IP will be protected.
Attorney John (Ted) Polasek has been helping people to protect and benefit from their intellectual property for nearly 25 years.
Ted understands how important responsive, hands-on service is to clients. Intellectual property can be a very personal thing, representing your individual creativity and ingenuity, and you need someone who will value your IP the way you do.
Call or fill out an online form to schedule a free consultation with Ted, and learn how he can help you protect your ideas.