by William Ross
Today, intellectual property or IP is a significant asset in most companies. In fact, it’s one of the most valued, if not the most. This is because it can guarantee tremendous profit and greater success than any other tangible asset can. Intellectual properties refer to any work or creation. Mainly, a product of the human intellect. These IPs are then granted rights and protection, should the owner or the organization wish to protect it and gain revenue from it. Which, I suppose, is what most, if not all, companies practice today.
Picture this: you own a precious object. Let’s say, a diamond ring. Would you protect it at all costs?
You see, the same thing goes for intellectual properties. For one, a diamond ring seems easier to protect than any intellectual property. This is because a diamond ring is an obeject. It’s tangible. You can either put it in a safe, a vault, or a jewelry box to keep it hidden and protected. However, the same thing cannot be done for intellectual properties. Due to its intangibility, IPs are quite challenging to “protect,” and there may be a series of processes before it’s actually granted legal protection. With that, you have to do whatever it takes to protect your IP before somebody else steals it from you and claims it as their own.
What is a Patent?
Before anything else, let’s define what a patent is. Intellectual property is any intangible work or creation produced by the human intellect. While all IPs are intangible, a patent is a type of right or protection granted to an even more intangible concept, which is either an idea or an invention.
Patent is granted on inventors or creators of the concept at hand in exchange for public exposure and utilization of the idea or invention. However, one cannot merely apply for a patent in an instant. Inventors who wish to apply for patency must first pass all three of the criteria laid out, which is made solely for patent registration. This includes novelty, inventiveness, and its ability to be applied in an industrial setting. All these you can discuss and arrange with an experienced patent attorney from the Philippines whose expertise revolves around intellectual properties and patent registration.
Why do You Need to Protect Your Idea?
You might be wondering, “If I’m about to file for patent rights, then why do I still need to protect my idea?”
Well, here’s the thing:
Registering for patency comes in a “first come, first serve” basis. Officials in charge of the entire process follow a “first to file” system. This first to file system will then serve as the basis of any applicant’s patent registration status. Also, it serves as the referral time and date in case of any similar applications, idea, or invention. Meaning, your concept or design is not legitimately yours unless the law says otherwise. Without an official patent registration from the authorities, you cannot claim any right over your intellectual properties.
Which is why it’s highly important to protect your idea before filing for a patent. Anyone can easily take this idea or invention from you, and when they do, it’ll only be your word against them, nothing else. What proof do you have then for authorities to believe that it was initially yours before it got into their hands? With that, here are a few ways on how you can protect your idea to prevent any individual or organization from stealing, utilizing, and labeling it as their own:
Document your idea…
Keep your ideas to yourself…
Hold closed-door meetings when sharing an idea to the team and
Keep illustrations, methods, and other visuals as proof.
Wrapping Up
Intellectual properties are a product of the human intellect. Meaning, it’s made of nothing but hard work and creativity. Why not try to give credit where credit is due by protecting your idea as you also file for patency, right? IPs have now become the most significant asset of any individual or company, which is all the more reason to protect it all costs. It’s never an easy task to come up with creative and original ideas to contribute to a company, the society, or even for all of humanity.
Author’s Bio:
William Ross may not be a lawyer by profession, but he’s one of the sharpest writers out there when it comes to intellectual property rights. Armed with considerable knowledge and gifted with impeccable writing skills, he can surely deliver engaging IP-related content.
Editorial Note: This article was written and submitted by William Ross. We invite inventors who wish to share their story and writers who want to have their inventor/invention related subjects published on InventionStories.com to click here. Please…always proceed with caution and at your own risk.
