Competitive advantage refers to anything that permits to a company to compete more effectively than it’s competitors. It contributes to increase market share and attract customers.
As an entrepreneur, it is thus important to be aware of bad habits that may conduct on losing this competitive advantage.
❎ You don’t have an adequate IP roadmap.
It is very important to know how you intend to use your IP, where and when you want to use it , which IP rights are more valuable for your business, how much you are able to put on IP management in order to increase your market share.
❎ You generally disclose your IP early.
An early disclosure may invalidate your IP for protection in many jurisdictions.
❎ You use your IP without protecting it.
An unprotected IP is considered in most of the country free to use.
❎You never put IP clauses on your employees contract.
Without IP clauses in a signed contract, you won’t be able to have strong evidence in case of IP litigation.
❎ You have a registered trademark but you don’t use it.
Failure to use your trademark within five consecutive years can result in cancellation .
❎ You never identify and protect your company’s confidential information.
An adequate protection of your trade secret can make a significant difference for the success of your business.
❎ You jump in a collaborative project without clarifying IP ownership.
In a collaborative project, it is crucial to clarify the ownership aspect at the earliest stage of the project in order to avoid disputes later.
❎ You never enforced your right.
IP enforcement allows your company to protect your investments and preserve the legal validity of your IP rights.
📢 IP can be complex to understand and manage for inexperienced persons, we highly recommend to seek assistant of a professional when it comes to manage your IP.
