Your Brisbane start-up business is finally starting to gain traction and is well on its way to showing up on people’s radar. While it is reasonable to be excited about it, you also need to be vigilant. Whether it is your startup’s unique services or your staff’s ability, protecting the intellectual property (IP) that will make the business stand out is your priority.
For this reason, get in touch with a commercial lawyer from a local law firm. They will help prepare IP contracts and agreements to safeguard it. Eventually, they will assist in enforcing IP rights and litigation. With that said, here are further ways you can protect your start-up’s intellectual property.
Have Two Main Company Structures
Ursula Hogben, a LegalVision general counsel, said holding intellectual property in one entity alongside employee agreements and business operations can be risky. To keep your IP safe, consider a two-company structure with a holding company and a subsidiary company.
The holding company protects and legally separates IP from the operational side of the business. Meanwhile, the subsidiary company acts as the operating company which employs your staff.
Pay Attention to the Law
You may have already settled your intellectual property contracts and agreements. It does not, however, give you license to be complacent. Consider all the ways you can protect your intangible assets, including trademark protection, domain name registration, design protection and copyright protection. By taking protective measures, such as registering trademarks and design, into account, you can further protect your intangible property.
Limit the People with Access to Trade Secrets
Naturally, you would hire people you could trust. It wouldn’t hurt to limit those who could access your trade secrets, though. Intellectual property storage and dissemination are crucial for your startup’s products or services to remain unique. With that said, be mindful about your staff and the day-to-day operations of your business.
As with any other venture, there will always be risks that come with building a startup. Protect your intellectual property to reduce that risk and bring it one step closer to success instead.