The term ‘intellectual property’ generally refers to “creations of the mind.” Specifically, your company’s intellectual property might include copyrights, patents, trademarks, and trade secrets. As important business assets, it makes sense to protect them from unauthorized use. But what can you do when someone infringes on your property rights by stealing your intellectual property assets? You do have options, which we will cover in this article.
Intellectual Property Infringement Happens
And it can be costly to your business. For example, you might trademark a symbol or statement that sets your business apart from your competitors. People know your company by that trademark. A competitor might ‘create’ an incredibly similar trademark that confuses consumers and directs them away from your company. It’s possible to address theft of your intellectual assets through criminal and civil means.
State, National, and International Laws Cover Your Intellectual Property
Florida laws cover owning intellectual property assets, as well as offenses involving the misuse of such property. But your copyrights, patents, trademarks, and trade secrets may also be covered by national and international laws.
Your Company’s Next Moves
Once you suspect that your intellectual assets have been borrowed, stolen, or misused, contact your business lawyer immediately. You will probably take some or all of the following steps:
- Investigate the potential misuse.
- Document your findings as you go.
- Preserve any evidence that someone has used your intellectual assets without permission.
After discussing the situation with your attorney, you might also do the following:
- Contact the infringer and tell them to stop using your intellectual property.
- Report them to law enforcement.
- File a lawsuit.
It’s important to note that the holder of intellectual property rights is usually responsible for enforcing those rights. In fact, the World Intellectual Property Organization (WIPO) notes:
“The burden of enforcing IP rights is mainly on the holder of such rights. In other words, it’s up to you as an IP right holder to identify any infringement of your IP and to decide what measures to take.”
A lawsuit might stop the infringer in his or her tracks. Your business might also be able to recover financial losses suffered because of the intellectual asset infringement. However, always discuss your options with an attorney before trying to handle this complex problem alone.
Learn More About Protecting Your Intellectual Property
Attorney Richard Sierra at the Florida Small Business Center assists clients like you with business and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.