Startups & Intellectual Property (IP)

Starting a business is exciting, talking about intellectual property, not so much. However, identifying & protecting your IP early on can save you a lot of headaches down the road.

Intellectual Property (IP) includes trademarks (e.g. business name, logo, slogan), patents, copyright & industrial designs. To learn more about each of these forms of IP, click here.

Ownership of IP

One big issue that tends to get overlooked in a startup is the ownership of IP. With more than one founder, you may have contributed separately to the IP in your business. One may have come up with the brand name, while the other developed a new technology.

You should have procedures in place to register your IP early & in the name of your company, not in the name of individuals. Particularly, if a co-founder decides to leave the company in the future, they could be able to take the IP with them if it was never assigned to the company.

As well, you should have provisions in employment contracts that specify that any IP developed by your employees during the course of their employment is owned by the company & not the employee.

Register IP Early

Registering your IP early & in the name of your company will avoid any confusion over IP ownership, and will help avoid your IP walking out the door!

Contact Sander Law today to get started!

The above content is for informational purposes only and is not legal or professional advice.