Commercial strategies for IP protection
Commercial strategies for protecting your intellectual property (IP) are useful for when your creation is unlikely to be eligible for formal registration, or when you want to retain exclusive use of the IP beyond the term of a patent.
Though commercial strategies are simple and effective ways of protecting some of your creations and know-how, they can be harder to defend under common law compared to registered rights.
Commercial strategies can include:
The ability of staff members and contractors to reveal your intellectual property (IP) to others can be a serious risk to your business. Without formal protection, it can be difficult to prove a breach of confidentiality if your secrets become known.
Confidentiality agreements - also referred to as trade secrets - are both a type of IP and a strategy for IP protection.
Common law protects you from other people stealing your trade secrets, breaching confidentiality agreements and using your trade mark as their own.
Make sure you back up your trade secrets with a confidentiality agreement signed by every person who has knowledge of any secrets. A confidentiality agreement can stop your employees from revealing your secret or proprietary knowledge during and after their employment or association with your business.