Dangers of Not Protecting Your Idea

Intellectual property is a driving force behind the U.S economy. Ideas, inventions, creations, and designs have been a part of American history since its birth, and it’s an important privilege to have that must be protected so much so that even our founding fathers wrote about it in Article 1 of the U.S. Constitution. The U.S protects IP rights by issuing creators either a patent, trademark, or copyright. As with other valuable assets (cars, homes, buildings) in which people seek out forms of protection for, your intellectual property also needs to be secured. Copyright thieves, brand impersonators, and patent pirates are a serious threat to all inventors when your original, creative work is left unprotected. The DOC estimates the domestic value of stolen intellectual property to be between $200 billion and $250 billion annually. It’s an uphill battle of trying to prove you’re the rightful creator if ever caught in a legal battle if you do not have the legal rights to your intellectual property. Other threats that you face without proper protection in place includes: 1. Lack of exclusivity. You cannot exclusively own your IP if you do not protect it. 2. Loss of revenue. The competition can steal your idea with little to no repercussions if you move forward with an invention or work of art without protection in the form of a patent, trademark, or copyright. 3. Property being stolen. Get the protection you need. An intellectual property attorney can help you identify, protect, and enforce your IP rights.