What Entrepreneurs Need to Know
Learning About Intellectual Property Law
Many entrepreneurs have misconceptions about what intellectual property law can and cannot do.
A patent protects what you have invented. A strong trademark helps you build your business. But a patent may not be necessary or may cost more in terms of money and time than it is worth; and establishing a trademark as a business asset requires a great deal more investment than simply obtaining a federal trademark registration.
Entrepreneurs often need guidance in intellectual property matters which recognizes both the legal and commercial realities concerning the value of an intellectual property asset. The firm of Vidas, Arrett & Steinkraus, P.A. has helped many entrepreneurs better understand the value of their innovations and the measures they should take to protect their rights and interests.
Call 952.563.3000 or send an e-mail to arrange for a consultation. An attorney at our firm can explain the basics of intellectual property law and what you need to do to protect your self.
Document What You Have Created
During the creative process, or as soon as possible after developing your concept, you should document your idea as fully as possible.
Define what exactly your idea is — and document when, where and by whom it was developed. It may be a complete set of engineering drawings or just a sketch, but documentation may be essential to establish your rights to the concept. Have your documentation executed and witnessed by a party who is under an obligation not to disclose the idea.
Know When You Need Protection
Learn as much as possible about the basics of intellectual property law.
Information on intellectual property law may be found on our Intellectual Property Guide page and also on our News and Cases page. You may also sign up for a free e-newsletter that discusses various topics in intellectual property law.
A lawyer at Vidas, Arrett & Steinkraus, P.A. will help you understand the steps you need to take to protect yourself and how to obtain protection for your intellectual property assets.
Get Advice Before You Move Forward
If you have an idea which you wish to patent, you should not wait too long before filing for patent protection. Other people may have developed the same concept or one that is similar to yours. By filing a patent application first, you may be able to establish superior rights to the concept, although this is not guaranteed in the U.S.
Your application must be examined and approved through a lengthy process. Many patents are initially rejected either on their merits or because they lack sufficient documentation or drawings. An experienced patent attorney will help you avoid this situation and the delays it may cause.
For a consultation with Vidas, Arrett & Steinkraus, P.A. call 952.563.3000 or send us an e-mail. Located in the Minneapolis-St. Paul area, we serve clients in Minnesota, throughout the country and around the world.