Why you need an intellectual property attorney on your side

These days, most businesses will have some kind of intangible asset (meaning you can see it but not touch it) that they have claimed ownership of, such as a trademark, patent, or copyright. As with any other asset you own, they must be properly managed and cared for to ensure your rights have not been invaded. To help you do this, you need the assistance of an intellectual property attorney.

Protection

This is the number one reason many businesses seek legal representation. Since intellectual property is not a physical object that can be touched and felt, it is very easy for thieves to copy it and claim it as their own. A lawyer will be able to keep an eye on your property, making sure that it is not being used without his or her authorization.

Profit

Many companies don’t realize that they can actually make money from their intellectual property. In manufacturing, for example, it may actually be cheaper to license another company’s patent than to try to reproduce your own processes. If you were to sell or lease your assets this way, you can make a nice profit.

Maintenance

Did you know that you will only have exclusive rights to your property for a certain period of time? To make sure your rights remain intact, you’ll need to pay fees and resubmit paperwork every few years. An intellectual property attorney will be able to keep track of these deadlines and make sure they are filed in a timely manner.

Acquisition

It is also possible to acquire patents and other properties when they expire for the exclusive use of your company and those to whom you decide to lease them. Your attorney will be the best person to help you accomplish this, as they will be able to tell when the property is about to expire and prepare you to purchase it as soon as it becomes available.

As you can see, managing your assets is not the simple task it may seem to the untrained eye. To ensure that your property is properly cared for and that there is no chance that someone else is using it illegally, you should retain the services of a reputable intellectual property attorney. There are actually a number of ways they can help you, both now and in the future.