Intellectual Property and Business
Knowledge of intellectual property (IP) can help your business become more competitive and manage IP risks.
The IP system has an important role to play in helping you to:
protect innovative products and services;
increase the visibility, interest and value of your products in the marketplace;
differentiate your company and products from the competition;
gain access to specialized and commercial information and knowledge;
avoid the risk of unintentionally using content belonging to third parties or unintentionally losing valuable proprietary information, innovations or creative productions.
Understand the benefits of IP
Defend your competitive space
Your innovative product/process or improved product/process can be protected by a patent right that can give your company a competitive advantage. The right granted by patent protection to prevent third parties from using or exploiting your invention allows you to defend yourself against competition and assume a strong and leading position in the market.
Understanding how to protect trade secrets is also critical in defending your competitive space. Specific product details, technological know-how and strategic business information are often key to a company's success, enabling it to maintain its advantage over competitors. The theft or accidental disclosure of trade secrets can deprive a company of these important advantages.
Visibility in saturated markets
Trademarks allow customers to distinguish your products or services from those of your competitors and ensure consistent quality. Care should be taken in choosing and designing your trademark, protecting it, advertising it, and ensuring that it is not misleading or misused by others.
The aesthetic appearance of your product, which is protected by an industrial design right, is another way to distinguish yourself from the competition and gain market share. A visually appealing design alone can attract a demanding and diversified clientele and could be the most important distinguishing feature of your product.
Identify, protect and manage your IP
Keep in mind that a single product may be protected by different forms of IP rights. The combination of these IP rights protects your innovation and nurtures your brand. They are an important tool for maintaining and strengthening your competitive advantage and expanding your market share.
Source: WIPO
