IP is an important asset that must be protected for your business to succeed. With the advent of modern technology that has allowed businesses to increase the rate at which they come up with new innovations. At the same time, this has also enabled competitors to indulge in unfair business practices on a scale that has not been witnessed previously. These two points make it necessary to protect your IP. But, in order to protect your intellectual property asset, it is recommended that you have an intellectual property lawyer by your side.
Almost all businesses, from a manufacturer of heavy industrial equipment, to a developer of mobile applications generate intellectual property of high value, and protecting them is a tiresome job in a highly competitive marketplace. A lawyer specialising in intellectual property law will be able to guide you through the different laws that might apply to your particular type on intellectual property (there are different kind of intellectual property), which on your own you might not understand or might leave out some important details while filing for one.
2. Different Industries
An intellectual property lawyer understands the global market place across a wide range of industries. These could include life sciences, oil and gas, media and retail products, and many others. Different market places will present you with different and new challenges, along with opportunities. A good and competent intellectual property lawyer will understand the opportunities that your intellectual property presents to you for your particular field. Using this information he will be able to provide you with proper guidance that you might need in order to protect your intangible asset.
3. Expertise with different facets of IP law
IP is a vast field with many different facets to it. An IP lawyer will understand the many wide ranging subject matters associated with the intellectual property law and will have an expertise in patents, trademarks, copyright and industrial designs. Using this expertise, the intellectual property lawyer will be able to cover everything, from prosecuting, commercialising and enforcing your rights that the IP law of Canada provides you with. Many IP lawyers also hold advanced science and engineering degrees along with industry experience which allows them to have insight into the system design for which you might be filing the patent, which again equips them better to protect your intellectual property asset.
4. Better advice and document drafting
Lawyers specialising in intellectual property law will help you prepare and prosecute applications for a variety of IP rights (patents, trademarks, industrial designs, etc.). They will also provide you with opinions related to the full range of rights provided by the IP law along with advice on IP portfolio management, license arrangements and regulatory compliance. Having an IP lawyer for your business will allow you to draft apt licence agreements and a wide array of documents relating to IP.
Having an IP lawyer for your business makes for a great strategic move. This will allow you to work with your lawyer to ensure your IP is properly protected and being used to its full potential. Prowse Chowne has a legal team that excels in providing IP related advice to individuals who are looking forward to protect their valuable intellectual property.