Las Vegas is a great place to launch a new business or sell a new product. But there are some challenges waiting for you. If you’re an inventor or business owner in the area, you can prepare yourself for the competition by learning about some of the intellectual property statistics in Las Vegas. It’s also important to understand the need for intellectual property protection. With the right protection, you can greatly improve your chances of business success. You can work with a patent attorney to learn more about your options. Here at the Patent Professor, we can advise you on ways in which you can secure your ideas and business.
In 2016, there were about 37 patent assignments in Clark County
. But there were only 20 assignments in both 2012 and 2013. Over time, more and more inventors have been seeking patents in Las Vegas and the surrounding cities in the county. There are several reasons for this. First, there’s the population increase. In Las Vegas, the population has been steadily increasing. There are more people, which brings more opportunities for people and their businesses to succeed. Another reason is the rise in tourism. In 2018, there were 42,116,800 visitors to the Las Vegas area
. This opens doors to entrepreneurs and business owners. No matter what industry you might be in, you can benefit from the growing population and high rate of tourism. Although there aren’t many statistics regarding copyright and trademark protection in Vegas, there are multiple statistics showing the need for protection. In Nevada, small businesses kept 474,535 employed
. The most employment occurred in the area of accommodation and food. However, the areas of healthcare, construction, administration, and retail also employed many people. With so many thriving small businesses in Nevada, there is a high demand for trademarks and other forms of protection. Las Vegas is no exception and is home to many unique businesses and products.
Resources for Those in Need of Protection
If you’re one of the many inventors or business owners in Las Vegas, you may need a helping hand. Fortunately, there are several ways in which you can get assistance. Although Las Vegas doesn’t have a Patent and Trademark Resource Center, Reno does. You can take a trip to Reno and utilize the resources at the University Library. Located on the University of Nevada-Reno campus, the library is staffed with people who have knowledge about the patent process. If you want to stay local, you can speak with a patent attorney. Once you explain your situation and your goals, an attorney can advise you on how to protect all of your intellectual property.
The Basics of Intellectual Property
It’s important to know the Las Vegas intellectual property statistics. However, it’s also important to know about the importance of your intellectual property. Many people don’t fully understand what qualifies as intellectual property and how to protect it. Your intellectual property are any ideas, inventions, and creative works. Often, the property has some type of economic value. It could be artwork for a children’s book, a new manufacturing process, or a screenplay. Any new concept or idea is intellectual property. If there were no intellectual property laws, anyone could take an idea and make money from it. However, the government recognizes the importance of protecting ideas and giving individuals and small businesses a chance at success. Thanks to patents, trademarks, and copyrights, you have a way of keeping others from stealing your property.
What is a Patent?
This type of protection is appropriate for inventors. If you have a new and useful idea, you can keep it your own with a patent. It’s a grant issued by the US Patent Office. If they approve your application, you are the only one with rights to sell, make, or use the invention. Most inventions qualify for patents, as long as there is no record of a similar invention. A computer code, shoe design, plant hybrid, or new process could qualify for a patent. Your protection only lasts as long as the patent. Typically, it’s only good for about 15 or 20 years.
What is a Copyright?
Copyright law involves works of expression. Often, authors of books, artists, and performers turn to copyright law for protection. If you have a copyright on a creative work, no one else can show, sell, or make your work. You can choose to give someone rights to your copyright in exchange for money.
What is a Trademark?
If you’re a business owner, you may want to consider a trademark. This type of property protection is for marks or names of products and businesses. It prevents other individuals from using your business name, logo, or product name.
Why Do You Need Your Property Protected?
Whether you are an individual or a big business owner, intellectual property protection is crucial. Regardless of which type of protection you have, it can help you in all of the following ways:
Keep the Competition Away
Because the economy in Las Vegas is doing well, there is a lot of competition. With property protection, you have a way of keeping the competition at bay. For instance, you can use a patent to keep another competitor from selling a new invention. You could use a trademark to keep your business name unique from the competition.
Make a Niche for Yourself
Often, one way to have a profitable business is to make a niche for yourself. Intellectual property protection is one way to do just that. For example, you can be the only business to offer a certain good or service.
You could rely on nondisclosure agreements and trade secrets to keep your ideas to yourself. However, that takes work. You need to actively monitor the situation to determine if there are any leaks. If there are, you need to do damage control. But you can worry less with patents, copyrights, and trademarks. If someone does steal your ideas, you can take legal action against them.
Working with Us
The Patent Professor wants to guide you through the complexities of intellectual property law. Contact our office today and get started.
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