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One thing I hear all the time is entrepreneurs saying, “I created it first, doesn’t that count for something?” It’s a common sentiment among business owners who are proud of their innovative ideas and hard work. And while it’s true that being the first to create something can give you a certain advantage, there’s also a harsh reality to consider. If you wait too long to protect your intellectual property, there’s a risk that someone else will swoop in and steal your idea, your brand, and everything else you’ve worked so hard to build.

This will leave you exposed in your business as an online service provider.

Let’s just start with the basics, my friend, intellectual property (IP) is a valuable asset for any business (online or brick and mortar). IP is your business name, brand, inventions, designs, and other creative works (podcast, info-graphics, and more).

If you don’t take steps to protect your IP, you leave it exposed to potential theft and misuse. Imagine investing countless hours, resources, and passion into developing a unique brand, only to have someone else come along and start using a similar name or logo. This not only dilutes your brand’s identity but can also confuse customers and damage your reputation. And who wants to be dealing with copycats here on Al Gore’s Internets? Certainly not me.

I’m going to repeat this, again and again – if you do not protect your intellectual property, someone else may use your business name, brand, or a very similar name. This means your brand could be limited or destroyed or heck starting all over again. Think of it this way- If you don’t protect it, then you lose it! Many business owners do not and cannot add another cost to their business or startup, so why not take the time to do it the right way from the start?

• Step 1 – Research the name availability beyond the Google search

• Step 2 – Ensure you have the proper agreements in place if you are contracting with another party to develop your graphics or other elements for your services

• Step 3 – Engage an intellectual property attorney BEFORE you release the product or service

Now listen, when I created Anderson Law Firm PLLC (ALF), it was with the pure intention to educate small business owners and entrepreneurs with the knowledge and tools they need to navigate this crazy business scene. Now if you’re unsure of when or what IP assets you should protect – be sure to check out this video below:

Please know that ALF is an IP law firm servicing online entrepreneurs with their business and intellectual property needs so if you need some help with any of the steps above be sure to Book a consultation or call us at 407-801-8000 today to secure your IP to build your wealth legacy today!