It may come as a surprise to many, but most ideas, concepts, and formats are not per se protectable as forms of intellectual property, which means these forms are free for the taking unless an entrepreneur takes additional steps. The steps an entrepreneur can take to protect ideas, concepts, and formats involve utilizing confidentiality and non-disclosure agreements, and/or protecting the expression of the idea through the copyright, trademark, and patent process.
Read MoreEarlier this year I had the great pleasure of being interviewed on the Arkansas World Trade Center GATEWAYS Podcast. We had a blast talking about what makes a business succeed where others fail. Doing business on the world stage is no different. The same legal secrets apply.
BODACIOUS Secret No. 1: Protect Ideas
Read MoreWhether and when to invest in a specific intellectual property insurance product is a decision made on a case-by-case basis with the help of a qualified insurance professional. Keep in mind there are numerous caveats, and policies vary. However, in most cases, a carrier will want to understand whether an intellectual property attorney regularly advises a business on IP risk.
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