Business owners often treat protecting their intellectual property (IP) in the way many treat a check-engine light appearing on the car dashboard – “that seems important, but it can wait.” But that strategy can be costly.

Understanding when and how to effectively protect IP is essential for safeguarding proprietary technology, preserving consumer goodwill, achieving long-term growth, and maintaining a competitive edge. While not every idea might need to be protected, business owners should be familiar with when (and how) to protect the right ones.

What is IP, and how is it protected?

At a broad level, “IP” refers to creations of the mind that are eligible for legal protection, like brand names, logos, inventions, designs, software, writing, recipes, unique business methods, trade secre

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