What is Considered Intellectual Property?

Intellectual property is a crucial element in the long-term success of any business venture. Failure to protect your intellectual property can result in competitors stealing your ideas, your branding, your image, and ultimately the good will you’ve created with happy or loyal customers. Think about a few of your favorite brands or products and how you are easily able to identify them and will often go out of your way or pay more to purchase them again. Now imagine if there were no intellectual property protections in place and anyone could create and sell cereal in a yellow box called Cheerios, no matter the quality of the product inside, or if anyone could build a car and slap the Ferrari name on it. Protecting your intellectual property is undeniably important if you’ve already launched your business or are just getting started. It goes beyond physical products to service-based products as well, which rely on a recognizable name and reputation to garner and keep…

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