Intellectual property is creative, intangible assets. They include any original creations, such as your logo, and other works, such as written materials, that are unique to your business.
Intellectual property is incredibly valuable because of its unique nature. In many cases, your IP is what helps make your company stand out and is an essential aspect of your overall brand. Due to its importance, you must make sure that you protect it from others who may seek to use it.
The U.S. Chamber of Commerce explains that you can protect your IP through securing copyrights, patents and trademarks. Protection of this nature requires registering your creation with the government. You then secure certain exclusive rights to it, which depend on the type of protection you seek.
Reasons to seek protection
One of the main reasons you should protect your IP is because it is the only way to keep them safe. You cannot lock them up or protect them in ways you can protect a tangible asset. Without proper protection, some other business could start using your creative goods as its own. This could confuse consumers and lead to a business loss for you. Protecting your IP also will keep you safe from former employees who seek to damage your company by sharing your IP.
It is incredibly easy for someone to infringe upon your rights to IP because all they need to do is become aware of it. They can take it and start using it. However, if you have a copyright or a trademark, the law is on your side. You can stop the person from using it and potentially recover monetary damages.