How to stop them from stealing your idea (by Ubuntu Baba's lawyer)
How do you stop a large corporate from Woolies-ing your idea?Bruce Whitfield, The Money Show
If you don’t have any protection; then they’ll say, ‘Take me to court!’… Every form of protection adds a further barrier…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
The IP will turn out the most valuable asset in your business…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
The term “Intellectual property” (IP) refers to creations of a person’s brainpower.
Laws governing IP give rights to an entrepreneur or business over intellectual goods, usually for a set period.
IP incentivises the creation of intellectual goods as it allows people to profit from them.
However, the incorporeal nature of IP complicates the protection thereof when compared to physical property.
The unlawful appropriation of IP is a huge concern, especially for small businesses that often don’t have the resources to do battle in court.
Papadopoulos advised how entrepreneurs can protect their IP.
Listen to the interview in the audio below (and scroll down for more quotes from it).
They [copied] key features… it wasn’t a replica…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
We had to make sure there wasn’t anything false… that Woolies could take exception to… if you launch court proceedings; your risk is high…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
…going the PR-route… the majority of times it doesn’t work out…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
The costs for something like this is a lot cheaper than if you had to go to court… probably in your hundreds or two-hundreds [of thousands of rands]…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
There are various forms of protection… for some of them, you need to have registered before it's released to the market… it has to be completely new or novel…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
There probably wasn’t anything we could patent upfront…Andrew Papadopoulos, Trade Mark Attorney - KISCH IP
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This article first appeared on 702 : How to stop them from stealing your idea (by Ubuntu Baba's lawyer)
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