What is intellectual Property?
Intellectual property refers to tangible or intangible creations of the mind such as inventions, literary, artistic works, designs, symbols, names and images used in commerce.
Why is intellectual property important to a wedding supplier?
The UK wedding industry is growing at a phenomenal rate and intellectual property protects more than just an idea or concept but also protects genuine business assets and the overall long-term viability of your business.
Your intellectual property can
- Set up your business apart from other suppliers within the industry.
- Be sold and licensed, providing you with an important revenue stream (particularly when the wedding season slows down).
- Form an essential part of your marketing and branding so it is instantly recognisable by consumers at every wedding event.
- Be used as security for loans.
How is this relevant to a wedding supplier?
Wedding suppliers may have branding and corporate identities that they may wish to protect, however more specifically photographers, videographers, cake designers, wedding dress designers, invitation card designers, DJs and bands, dance choreographers, designer florists are just a few of the wedding suppliers who we have assisted with their intellectual property disputes over the past 12 months.
There are four different categories of intellectual property. These are trademarks, copyright, patents and registered design. Depending on which category your work comes within, this would impact how it is to be applied, registered, renewed and infringed. Therefore, ensuring you obtain legal guidance is essential in ensuring you gain the maximum protection for your intellectual property rights.
How to protect your intellectual property
- Be IP Smart – Engage a specialist lawyer to assist you with reviewing your business and analysing which areas of your business can benefit from intellectual property protection.
- Protect what is important to others, not just you – What you may believe is important, is not necessarily what your competitor believes is important. Engage a lawyer to scrutinise which areas of your business could benefit from the most protection.
- Invest in a well-written non-disclosure agreement – Make sure your employment agreements; licences and sales contracts all protect your intellectual property too.
- Act Quickly – It doesn’t take long for a competitor to copy you. When it comes to registering your intellectual property aim to work as quickly as possible.
For any more information relating to intellectual property rights contact firstname.lastname@example.org