4.3 Reality check: safeguarding your idea?
Your business ideas have commercial value. You need to protect them. Here is my checklist of actions you should take:
- Have you registered or applied to register the company name with Companies House?
- Have you secured your domain name to safeguard your brand?
- Are you happy with your prototype?
- Have you checked that nobody else has got there before you via www.patent.gov.uk? Is your idea genuinely novel?
- Have you asked potential manufacturers to sign a simple confidentiality agreement and applied for a trade mark or patent before starting negotiations?
- Do you have everything in writing with partners, manufacturers, suppliers?
- Have you catalogued everything? Including notes, sketches, diagrams, contracts, letters and e-mails?
- Have you marked the copyright symbol, name of copyright owner and year of creation on all written, literary or artistic work?
- Do you know when your domain name will be up for renewal?
- Have you looked into licensing your rights wholly or in part to generate income from your IP assets?
- Have you researched competitors and market entrants? Are you paying attention to new trade marks being advertised?