Wisconsin Technology Network:
So you want to start a business? And it’s going to be a high-tech business! Where do you begin?
The idea usually comes 1st. Is it Biotech? Software? Before raising any money, hiring an employee, or forming a business entity, protecting this commercial idea is critical because it is most likely intellectual property.
But what type of intellectual property is this? Patentable? Copyrightable? Trade Secret? Can it be identified by a trademark, a brand, or a trade name?
In Step 1 you should decide whether you are going to explore this business opportunity before you protect it from others. That is, are you going to protect your idea so that no one else can use it?
A few definitions:
Patent: The right, granted by the federal government, to prevent others from practicing an invention.
Copyright: Copyright protection applies to “original works of authorship, fixed in a tangible medium of expression.” Copyrightable subject matter includes literary works, music (including lyrics), graphic works, motion pictures and other audiovisual works, sound recordings, software and software documentation, other technical software documentation, and web page layouts. Copyright gives the copyright owners the exclusive right to copy and sell copies of a copyrighted work.
Trade Secret: A plan or process, tool, mechanism, or compound known only to its owner and employees he or she confides in.
Trademark: Generally speaking, a distinctive mark of authenticity through which the products or services of particular merchants may be distinguished from those of others. It may consist of any symbol or in any form of words, but its function is to distinctively point out the origin or ownership of the articles or services it identifies.
Once you decide what type of intellectual property you have, it is essential to protect it. More.
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