With as competitive as the business world can be, you need to constantly be on guard to ensure that those elements that give your business an edge in your market are protected. The common school of thought is that any intangible assets unique to your business is considered to be intellectual property. Yet is that really the case? Countless representatives from companies in New York have come to us here at Codispotti & Associates, P.C. questioning which of these elements they can and cannot protect. Understanding this is the key to making sure those intellectual assets that are proprietary remain so.
Business owners and executives in New York often have the need to protect sensitive information relating to their business or products from being used against them. This information is commonly referred to as intellectual property. It is not tangible but frequently represents the essence of what a company offers and its competitive edge. There are various protections available to companies specific to intellectual property and a patent is one type.
Without laws protecting content, anyone in New York might be able to profit off the name and brand recognition that others have worked hard to build. While the actual damage done by intellectual property theft might seem to be difficult to notice in the immediate, a "big picture" assessment of the matter may reveal how multiply parties trying to use the same content could "water down" and devalue an image or icon. Such a devaluation might only affect the image's creator, who made the investment in creation, as opposed to others who never made any sacrifices towards its development.
In many of our posts, we have approached business law from the perspective of a business owner whose company has been treated unfairly in one way or another. However, there are also times when a more defensive approach may be necessary. For example, you may own a company that is being taken to court over allegations of trade secret infringement. This can be a very unnerving experience and some business owners who have never found themselves in this position before may be completely unsure of how to handle the situation. However, this is no time to be unprepared.
We have discussed many different legal topics related to intellectual property, from copyright matters to trade secrets. That being said, you may be dealing with other challenges related to this area of law, such as litigation over other examples of unfair competition. Perhaps the company you run is being accused of this offense by a competitor, or maybe you are thinking about filing a lawsuit over another business that has violated your rights with respect to unfair competition. Either way, it is vital to know exactly how you can protect your interests and work toward an end result that is in your favor.
New York law recognizes that having a formula, client list or other confidential information may be what defines a company's success. The American Bar Association explains that although the federal Uniform Trade Secrets Act provides the definition of a trade secret in most states, New York follows the Restatement of Torts.
When the intellectual property of an individual or a business is stolen or misused, a wide range of challenges may lie ahead for those affected. Obviously, these offenses can have serious financial consequences for victims, but there are other ways in which people across New York City might be impacted by intellectual property violations. From a competitor using another company's secrets in an unlawful manner to copyright infringement, the misuse of intellectual property is not to be taken lightly. Sometimes, people assume that these types of violations are not very serious, ignoring the numerous consequences that are often associated with offenses of this nature.
Business owners, as well as creative individuals, choose to copyright various kinds of work to ensure that their efforts are not misused by others. Unfortunately, copyrighted material is used in violation of the law far too often. Moreover, those who disregard copyright law have even more avenues to carry out this offense in the digital age. When copyrighted material is stolen, it can have an impact on copyright holders in a way that extends beyond financial loss. In some instances, opportunities may be squandered and those whose rights were violated may experience emotional distress.
From litigation over allegations of copyright infringement to registering a trademark, a number of legal issues may arise when it comes to intellectual property. However, it's important for business owners to have a clear understanding of the different terms and how they are defined according to the law. For example, some business owners may wonder what a trademark is and it is vital to find answers to these types of questions.
By standing up for your rights, you could be able to gain peace of mind when violators are held liable and protect your business as well. If you head over to our website's intellectual property section, you will be able to go through even more types of intellectual property matters that are related to the theft of trade secrets.