Thought for Today: Intellectual property protection is much like protecting yourself from catching COVID-19.
[Statistic] About 10% of the world’s population has been infected with COVID-19.
As I sit here in my bed feeling quite sick, my mind turns to statistics.
I may now be part of that statistic.
But wait a minute: my COVID-19 test last week came back negative.
[Another statistic] An astonishing 67% of testing are false negatives.
That statistic and my symptoms led my doctor to believe I may now be part of both statistics.
I don’t want to be a statistic.
So that brings me to another set of statistics.
Many entrepreneurs fail to protect themselves and their business intellectual property.
They don’t know what to do.
They think lawyers are super expensive and they can’t afford it.
So they do nothing.
[Statistic] Patent litigation is on the rise. At the national level, 20Q2 patent filings were up 27 percent from 20Q1 and approximately 16 percent year-over-year.
[Another Statistic] The overall median damages award between 1998 and 2017 for patent litigation cases was $5.9 million. The largest amount of initial damages awarded in a case was in 2016 where Idenix Pharmaceuticals LLC were awarded damages of over 2.54 billion U.S. dollars from Gilead Sciences Inc.
Oh you say, I’ll never be a part of those statistics.
My response: Are you so sure?
You see, if you produce and sell products or services without a freedom to operate analysis, you very well may be sued by a legitimate intellectual property owner.
If you operate your business under a brand name without a trademark search, you very well may be sued by a legitimate registration owner.
[Another statistic] A recent Organization for Economic Cooperation and Development (OECD) report details a 154 percent increase in counterfeits traded Internationally.
Once again you say, I’ll never be a part of that statistic.
My response: Are you sure?
If you sell your products without your own Intellectual Property protection, you could very well be.
How would you feel if you found a copycat mass produced your product in a foreign country and sold on Amazon or EBay?
Now don’t fret, there’s hope for you.
Just as my clients that were in the same position when we started working together.
When you work with me, you get someone that can guide you through the process of getting your brand, inventions, and creations protected.
Someone who has done so dozens of times.⠀
Someone who has the secrets to securing your success.
Then you can begin to sleep at night.
Knowing that you can operate your business with the freedom to sell your product or service method without the worry of later being sued for infringement.
Knowing that you can operate your business without the worry of your product or service method being copied.
I have the solutions.