Do you understand ‘intellectual property’ and how it can help your company grow? Or do those two letters ‘IP’ cause you to switch off?
I’ve worked with over 300 creative, cultural and tech sector companies in the last seven years, and it still stuns me how little they understand about IP. But they are missing such a big trick.
Let’s be clear – IP is not the preserve of lawyers, or IP attorneys. The reason IP laws exist is to ensure that the creators profit from what they create, are protected by law and are able to flourish. This is enshrined in the World Intellectual Property Office (WIPO) definition. An IP attorney’s job is to ensure your IP is protected.
So let’s do a fast whip round IP to get you up to speed…
Copyright : You create it, you own it – it’s that simple. Provided you haven’t copied it or infringed someone else’s copyright. Copyright can’t apply to an idea – it has to apply to an actual output, such as an illustration, a presentation, a design, a book. It’s an automatic right and a property right so you can sell it, licence it, use it as you choose. It has value when used inventively. This article is my copyright based on content from my book Simple Tips, Smart Ideas: Build a Bigger Better Business for which I also own the copyright. Do you own any copyright you can use inventively in new ways?
Trademarks : Most people are familiar with trademarks. A logo, design, colour and/or name of many of the brands we use every day are protected by trademarks. These ensure we can distinguish one company’s goods from another. You can also use a trademark to protect an inventive product name or service you offer clients. I helped design company Without register ‘Urban Adventurers’ as a trademark when we realised most of their clients’ customers fitted a tight demographic grouping which the agency understood how to target. We then wrote a guidebook on how to market to them.
Trademarks need to be registered with the Intellectual Property Office in Newport. You can either do it yourself online or work with a trademark attorney to help you.
Design Right : This protects the 2D/3D look and feel of a design. For example the image and shape of animated character Lara Croft is protected by a design right. You or your attorney have to register your designs with the IPO office who also have a useful search function to ensure no-one else has already registered something similar.
Patent : A patent protects the working concept behind an idea. It has to fit some strict criteria – it has to be new, be an inventive step, be able to be made or used in some kind of industry and you must not have already disclosed it widely or to the public before you file your application. Registering a patent is an expensive, time-consuming business needing a patent attorney, so you need to ensure your potential patent has real commercial value to you.
Alcoholic confectionary company Smith & Sinclair was the first company I helped identify a potential patent. They had developed a method of making sweets which retained the alcoholic properties of the gin, whisky etc they used. And this methodology formed the basis of their patent application, allowing this tiny start-up to out-manoeuvre the global drinks brands.
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So check out what IP you already own or audit what you could own, may need to protect and can use to build your business inventively. Whether you are a freelancer, a micro or small company, IP can bring you so many opportunities. There is a whole section on understanding and using IP in my book, Simple Tips, Smart Ideas: Build a Bigger Better Business with illustrative case studies to help you out. Once you have grasped the basics, you can ensure you profit and grow with what you own.
Erica Wolfe-Murray
About the author
‘A leading innovation and business expert’ according to Forbes.com, Erica Wolfe-Murray works with companies across the creative, cultural and tech sector to help them develop new products and services, find new revenues and audiences. She is also the author of ‘Simple Tips, Smart Ideas : Build a Bigger, Better Business’ aimed at helping companies transform their business and develop greater commercial resilience. Available from Foyles, Amazon and all good booksellers.
