Tag Archive for 'patent attorney'

The power of small business trade secrets

Forgive me, because I know you’ve heard me say this many times before, but we’re not in Kansas anymore, Toto. We’re in the 21st century, and things here are different. And nowhere is this truth more evident than in the world of intellectual property (IP). You know: patents, trademarks, service marks, licensing, copyrights and trade secrets.

One of the cool things about 21st century IP is how easy it is for small businesses to create and leverage it. Unfortunately, too many small business owners get the idea that they don’t own intellectual property because they don’t have a big brand trademark like Nike’s swoosh, or they don’t have patented inventions, like Research In Motion’s Blackberry. But that’s like thinking you can’t cook a delicious steak on the grill at home because you don’t own a restaurant.

The truth is small businesses - including yours - create intellectual property all the time, just not always the flashy kind. One of the best examples of small business IP is a trade secret. This is anything that you’ve developed or discovered that gives your business a competitive advantage. It could be a delivery system or an inventory management scheme. It could be as simple as a finely-tuned payroll-to-revenue ratio, or as elaborate as a customer relationship management program that you’ve created for the way you want to track sales development and customer service.

Either way, it was created by you, your business is leveraging it and, therefore, it’s an asset that belongs to you - which means you should recognize that it has value and should take the necessary steps to protect it.

Recently, I talked about how to value and protect your trade secrets on my small business radio program, The Small Business Advocate Show, with Brain Trust member and intellectual property attorney, David Dawsey. David’s firm is Gallagher and Dawsey, based in Columbus, Ohio. I think you will benefit by taking a few minutes to listen to what this expert has to say. And be sure to leave your thoughts on this topic.




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