Do you own a business which has a good reputation in the market and among customers? or Are you planning to launch a new portfolio but worrying about its counterfeit from the initial stages?
For brands that enjoy a good reputation and demand among the customers the owners often feel scared of counterfeiting of their goods and services leading to loss of business.
Need input on how to ensure your brand protection and how to strategize your intellectual properties? Let’s walk you through the top concerns you should address before investing in brand protection or even strategizing your intellectual property.
Finding the right issue to counter:
Any business is driven by multiple factors which influence its popularity in the market. You may be facing several counterfeiting issues in your business, but you need to prioritize these based on the level of danger they pose.
You need to ask if the threat arises from social media, cyber-spying, third-party websites seeking your permission or any other source. Once you have found out the issue which is impacting your business the most, you can go ahead to counter it the right way.
Securing your data the right way:
Use technology to make the right database and store it using an encrypted password, and it must be auditable. Do not take decisions based on guts instead use data retrieval and data analysis to find out which factor is affecting your key performance indicators the most and then work out the solution?
How much does Brand Protection cost you?
Well, if you strategize you IP and brand protection the right way, then it will not cost you a fortune. Various software is available that help you protect your data securely with or without a nominal fee. Besides, technology has enabled large-capacity storage devices that can help you keep all of your data truly confidential and secure.
Strategizing your IP
Intellectual property can give you the sole right to the product and lets you control what happens with your goods and services. You may also license the third party for the distribution or manufacturing of your goods and services on an agreement.
State laws protect counterfeiting of goods and services through patents and copyrights. However, it is also imperative that you market your IP on best journals and forums online that will attract investors and buyers for you.