July 14, 2021
One of the most important assets to any business is the businesses’ intellectual property or IP. Many businesses utilize software, formulas, design processes, slogans, and branding that are unique to them – and them alone. When another business or individual steals any one of these types of intellectual property, the business can suffer financial harm and other serious difficulties. Consequently, businesses should do everything they possibly can to protect their intellectual property from being misappropriated by someone else.
When it comes to intellectual property issues, disputes can arise despite a company’s best efforts to safeguard its various forms of IP, including patents, trademarks, copyrights, and trade secrets. When this happens, litigation may be necessary to sort out the dispute. When companies fail to properly address the matter, significant losses can occur.
If your business is in the midst of an intellectual property (IP) dispute, Detroit intellectual property litigation lawyer Maxwell Goss of Maxwell Goss Law is here to help. Please call us today to find out more about how we could assist you with your intellectual property litigation needs.
One type of intellectual property dispute that sometimes arises involves trademark infringement. Trademarks include logos and similar types of markings that are used to specifically identify your business. When a trademark infringer offers comparable services or products that are of lower quality, your business could suffer – along with your businesses’ reputation.
A cease and desist letter might be effective in cases where a trademark infringer does not know that he or she is interfering with your registered trademark. However, if your business suffered a serious loss as a result of trademark infringement, you might need to bring a claim in order to pursue monetary compensation and damages.
Companies that develop new formulas or inventions should obtain the necessary patent protection in order to safeguard the new development/design. Once a business obtains a patent, the business becomes the owner of the underlying design. If another individual, corporation, or entity wishes to use that design, it must first obtain permission from the business. If another company or individual wrongfully uses your patent and your business suffers financial losses as a result, then you might be able to file a patent infringement claim. In some instances, patent infringement claims need to be resolved through the complex patent litigation process.
The copyright to an article, book, song, or painting gives the creator or author exclusive authority to publish, sell, or reproduce the work. In cases where an individual or business gives permission to another entity to use the artistic work, then the creating individual/business might be eligible to receive a commission — usually in the form of royalties — for others’ lawful use of the work. However, when an individual or entity uses the artistic work without the creator’s permission, then the creator can wind up being short-changed. In that instance, the creator may need to file a copyright infringement claim that could ultimately lead to litigation.
Some companies decide to protect their client lists, formulas, designs, and marketing materials as trade secrets. If a person or entity misappropriated a businesses’ protected trade secret, then you might be in a position to take legal action against the offending party. For example, you could take action against an entity that used the protected trade secret for financial gain, as well as against a person or entity who wrongfully disclosed the protected trade secret.
IP laws are regularly changing, including at the beginning of 2021. Companies should seek the right legal guidance with any type of intellectual property dispute as soon as they believe that an issue may be arising. Swift action can often limit losses and potentially even make the litigation process more efficient.
Safeguarding intellectual property is essential to ensuring that a business operation remains profitable. If you suspect that your businesses’ intellectual property has been compromised, experienced attorney Maxwell Goss can investigate the situation and explain all of your legal options to you. Do not wait to contact us at Maxwell Goss Law today.
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