Wednesday, November 2, 2011

10 Reasons to protect your intellectual property from intellectual "borrowers"

          Intellectual property is an intangible entity. It does not have a physical existence or a price tag attached to it. It is the result of a person’s thinking and vision. Consequently it is that person’s intellectual property. But the internet age has made us insensitive to this aspect. We often don’t respect a person’s hold over his intellectual property. This has led to what we now call ‘intellectual theft’.

                  Some do it out of ignorance. But there are some others who steal knowledge in spite of being aware of the consequences. Greed and laziness prompt several people to commit intellectual theft. Some people even commit it for the sake of adrenaline rush that the theft gives. Some do it out of spite while some just do it for the money that the idea brings in.

              Whatever be the reason, intellectual theft is highly condemnable. It reflects the low moral values of the person and it is extremely unfair to the victim. It is thus necessary to protect your intellectual property. 

Here are ten reasons as to why you should protect your intellectual property:

1.      Piracy and counterfeiting are forms of intellectual theft. Your business will be dealt a serious blow if your intellectual property is not protected.

2.    The trademark of several American companies has been copied by several companies abroad. These companies are using the features of the American companies to sell their products. They are depriving American companies of potential markets.

3.    Trade secrets are an integral part of intellectual property. If they are revealed they will threaten the very existence of your business.

4.    If the unique and cost cutting design that your company uses is stolen, it increases your competition.

5.     Invention of a product that has the potential to cater to millions is another idea that can be stolen. If stolen, it can deprive you of the credit for the invention.

6.    Some of your ideas could be potentially worth a lot of money. It is necessary to protect them sufficiently so you can enjoy the fruit of your hard work.

7.     Some ideas are modified and used to make profit. But the person who contributed the core idea is given no share if his idea was not protected.

8.    The resources invested in popularizing your product could be of no use if others are using your trademark to sell their products. This loss can be prevented by protecting your intellectual property.

9.    Intellectual theft deprives you and your organization of the ‘unique’ status.

10. Your intellectual property is your asset, it should remain yours exclusively.

 Thus, it is very important to protect what is yours for the sake of your tutoring organization.

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