
A key part of maintaining a strategic technical advantage is intellectual property. Intellectual property forms a “barrier to entry” that keeps competitors at bay. Careful attention to intellectual property (both your own and that of others) will prevent a number of future problems. Remember that to make money you must create a situation where you essentially have an advantage in the marketplace that is difficult for your competitors to overcome. You need the breathing room to develop your solution and your market. This is particularly true when the potential competitors are very much larger than you are.
warning: There are a number of legal issues in this post. This post is no substitute for good legal advice.
A key concept about intellectual property is that it only gives you the right to sue someone for violation. You cannot force anyone to do anything. Intellectual property only allows you to stop other people from doing certain things and provides legal remedies for what they have done. Also these posts should not substitute for good legal advice. The purpose of this discussion is to help you craft an intellectual property strategy. To execute your strategy, find good legal counsel.
This overview of intellectual property is based on U.S. law. Other countries vary in detail but the principles are generally similar. Again, consult a lawyer for details.
Types of intellectual property
There are four types of intellectual property that relate to a software business. They are:
- Trademark
- Trade Secret
- Copyright
- Patent
Trademarks are essentially part of the branding of your product and are more part of your marketing effort than your technology effort. They will not be discussed here.
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