Do you have an idea that may revolutionize the world?
Is the idea so creative and innovative that it can turn out to be profitable if developed further.
Now, if you’re among the few people that managed to design something totally new, then you should protect it by all means.
See, once you start selling the idea to the public, some are always trying to copy your idea, whether to present it as theirs or even capitalize on it.
But the good news is, it’s now easier to protect your idea by hiring an intellectual property lawyer from Jones Whyte Law.
An intellectual property lawyer specializes in the law and practice of intellectual property law.
This law normally talks about the security and enforcement of the legal right to any design, artwork, or even artwork.
Now, if you’re still on the fence on whether you need an intellectual property attorney, here are a few of the benefits of why you need one.
Safeguard Intellectual Property
One of the critical roles of an intellectual property attorney is safeguarding your IP from infringement.
This means registering your idea, design, technology, or even artwork under the respective copyright, patents, or trademarks.
This will help in the unlawful use or reproduction, and if someone is trying to break the law, your IP attorney may take legal action.
But unfortunately, registering your IP once is not sufficient enough to provide the full protection.
In most cases, when you put your idea out in the market, chances are it’s going to get infringed, and so, you should always be in touch with your IP for the updating of the IP rights.
Conduct Due Diligence
The role of an IP attorney goes beyond securing your IP.
It also includes conducting due diligence and assessing the quality and quantity of the assets or rather property owned by a licensed company or individual.
Generally, assessing your property is beneficial in several ways, but the most notable benefit is that it helps to maximize the value of the intangible assets, which can significantly boost your company’s balance sheet.
This is an extensive category, which encapsulates a variety of oriented strategies and advice for negotiating agreements.
Regardless of whether the agreement is settled within or outside legal proceedings, your IP attorney will help you to contact the third party for negotiations to the last stage.
Draft Crucial Agreements
IP lawyers are professionals and have experience in drafting agreements related to IP.
They’ll help clients interpret laws and regulations for clients, perform the research for preparing a variety of legal documents, and speak on behalf of you, either orally and in writing.
Generally, though, your IP attorney will be responsible for drafting:
- Deeds of assignment or transfer of ownership
- Drafting the licensing agreement
- Drafting of the secret clauses of precautionary measures when demonstrating an invention
Determine the Real Value of your IP
Putting a price tag on your intellectual property is one of the most crucial steps.
As the inventor, it can always be a challenge to determine a fair price, but an IP can help you do that.
During the determination process, there’re several factors that your IP attorney might consider, including, but the costs and requirements should be the top priority.
Even so, the factors are largely dependent on where your IP is located and its very nature.
Sure, they might not provide you with the exact amount, but the estimate is still beneficial as it’ll save you from the additional costs of hiring an expert.
It’s rare to find an ordinary man being familiar with the IP laws.
The IP lawyers, on the other hand, are experts in the IP space, since it’s what they’re paid to do and they’ll be there to defend you legally.