Whether you are just starting a business or already running one, IP should always be part of your business plan.
Every day businesses build up goodwill and recognition link to their brand product or service.
This value builds up all the time and is strongly linked to your IP assets. So it’s important to identify them early in your plan.
How would it affect you, if somebody else set a business with your name, or you find out the name you’ve been using belongs to someone else and you might have to stop trading.
A lot of businesses invent products to solve problems. You might not realise your product is unique and could be protected by a patent or registered design. You could then market these to others to solve their problems too.
The success of your business depends on your commitment to your IP assets. So don’t forget when planning for your business growth what seems unimportant today might be worth millions of pounds in the future.
One of the first things you should do is identify the IP in your business. IP health check tool from the intellectual property office can help you do this. It’s fast, free, and available online. Your personalised report will set out the next steps you need to take to protect your IP assets.
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