Why You Need An Intellectual Property Lawyer On Your Side

These days, most companies will have some sort of intangible (meaning that it can be seen but not touched) asset that they have claimed ownership of, such as a trademark, patent or copyright. As with any other asset that you own, they need to be properly managed and cared for to ensure that your rights have not been encroached upon. To help you do this, you require the assistance of an intellectual property lawyer.

Protection

This is the number one reason why many companies look at getting legal representation. As intellectual property is not a physical object that you can touch and feel, it is very easy for thieves to copy it and claim it as their own. A lawyer will be able to keep an eye on your property, making sure it isn’t being used without your authorization.

Profit

Many companies are unaware that they can actually make money off their intellectual property. In manufacturing, for example, it can actually be cheaper to license the patent from another company than it can be to try and reproduce your own processes. If you were to sell or lease out your assets in this way, you can make a nice profit. I will recommend Award-winning Virtuoso Intellectual Property Lawyers

Upkeep

Did you know that you will only have exclusive rights to your property for a certain amount of time? To ensure that your rights remain intact, you will need to pay fees and re-file paperwork every few years. An intellectual property lawyer will be able to keep track of these time limits and ensure that they are filed in a timely manner.

Acquisition

It is also possible to acquire patents and other properties when they expire for the exclusive use of your company and those you choose to lease it to. Your lawyer will be the best person to help you achieve this, as they will be able to tell when property is about to expire and prepare you to acquire it as soon as it becomes available.

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