Ask yourself, what would happen to your business if a competitor began using your company’s name or began selling a product identical to one that you developed? Could your business survive?
The best way to protect your innovations and creations is through effective enforcement of intellectual property (IP) law. Many small business owners falsely believe IP law is only for large corporations and is not worth their time and money, but no small business can afford to ignore protecting their intellectual property.
Copyright laws protect the intellectual property of artists, including written text, photographs, paintings, and designs. Copyright law is particularly important to professional photographers, musicians, writers, and other visual artists. Copyright is established when a work is created.
For example, when a photographer takes a picture they immediately hold the copyright of that image, unless the image was taken on behalf of an employer as part of the photographer’s job duties or the photograph was commissioned for another use. In those cases, the copyright is granted to the employer or the individual who commissioned the work, respectively.
The internet has increased greatly the number of copyright violations. Images, videos, and music are often shared with no regard for their copyright.
A trademark includes the design, name, words, and phrases used to identify your business and products. A service mark identifies the provider of services, rather than hard goods. Your trademark or service mark constitutes the identity of your business. You are not required to register a trade or service mark, but failing to do so could leave you vulnerable. The United States Patent and Trademark Office (USPTO) website includes resources on Trademark registration for small business owners.
Because inventors and innovators frequently lack the financial resources to produce or distribute their own inventions, patent law exists to protect those innovations or inventions from reproduction without permission or compensation. Once a patent is registered it becomes a public record and the duration of a patent is limited.
There are several types of patents, including design, plant, and utility patents. The filing process and wait times for patent registration may take a great deal of time. Speak with your LegalShield provider law firm before you begin the process. It is important to make sure you are on the correct path before proceeding. You may also review the USPTO website for additional information.
LegalShield offers plans that cover your small business legal needs and fits in your budget. Our scalable plans fit companies with 10, 50, or 100 employees or more. We offer easy access to knowledgeable attorneys who practice in your home state. This means you have a lawyer on call who knows local and regional laws and regulations and how they may affect your company. Learn how getting a Small Business Plan can help you succeed as an entrepreneur.
A Revocable vs. Irrevocable Trust comes down to one trade-off: control versus protection. Revocable lets you stay in the driver's seat. Irrevocable moves your assets somewhere creditors and estate taxes can't easily reach.
A partition action can help give you a path forward when you just can’t agree with a property co-owner — even if you’ve reached a stalemate.
A mistake in your Will could leave your loved ones facing legal issues during one of the hardest moments in their lives. We’ll explain how to update a Will, and why it’s best to do so with legal help.
Estate settlement involves managing a deceased person's finances. As the executor, you'll pay their legal debts and distribute their assets to the people they named.
Instead of going through court, your home can pass directly to the people you’ve chosen.
A Trust is like a bridge between a person and their estate. A Trust can make it easier for your family to manage your estate when the time comes.
