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What is IP and why do businesses need it?

7th October 2019 by What is IP and why do businesses need it?

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IP, stands for Intellectual Property and refers to the concept that your theory, invention, product or idea can be protected by law from being copied by someone else. There are different types of IP;

  • Trade Secrets
  • Trade Marks
  • Copyrights
  • Patents
  • Design rights

All these different types of IP will help secure you, your business and your products.

Why protect your IP?

Protecting your IP is important as it secures your unique concept, products or services that competitors could try to get hold of, which could lead to loss of revenue or slow growth.

The digital world has provided a completely new landscape for the circulation of IP. This new realm of data-sharing has yielded both challenges and opportunities to the value of IP assets. Ultimately, it has increased the importance of IP protection. Protecting your IP assets may seem unnecessary and trivial as first, however overlooking investing in IP protection could lead to considerable costs in the long run in your product and your company. On the plus side, investing in IP protection will serve only to increase the value and viability of your business.

Why Laceys?

Laceys are really proud to be the only Dorset based firm to be recommended within Intellectual Property, demonstrating our unique and invaluable expertise for the innovation and creativity that is thriving in Dorset.

How can we help you?

We can help from your initial application and registration to reviewing your contracts to see if you actually own your IP. We also have dedicated solicitors who can help you to protect your IP if someone is using your IP without a license.

You should protect your IP so you stand out from the market that you are in and add value to your company.

Make it yours and no one else’s.

Please contact Sam Freeman on s.freeman@laceyssolicitors.co.uk or 01202 557256 for further advice.

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