How to Protect Your Intellectual Property

Are you giving away your intellectual property without knowing it? Watch this video if intellectual property in source code catches your interest.

When bringing your ideas to the world, some collaborative help might be necessary. However, this help can lead to unintentional partnerships, risking the ownership of your intellectual property. 

Picture a video game developer who works with another developer to fix some of the coding issues in the project. In this case, a possible collaboration has existed. Here’s how to protect your intellectual property in four simple steps:

#1 Understand the Risks

Collaboration, like the example above, often involves sharing ideas and resources, which can accidentally lead to sharing valuable IP without intending to.

#2 Outline Clear Contracts 

Establish clear contracts outlining rights, responsibilities, and termination of agreements to avoid accidental partnerships.

#3 Consider Perpetual Agreements 

A perpetual agreement can provide a solid solution for creators who want long-term partnerships without giving up their intellectual property. This type of agreement allows creators to retain control over their original creations.

#4 Seek Legal Assistance

Since intellectual property agreements can be overwhelming and complex, talk to a lawyer. A business lawyer will draft partnership contracts for you and review the ones you already have. It’s their job to protect all parties involved and ensure everyone understands what’s included in contracts.

Protect your intellectual property. If you’re collaborating, know the risks, and take proactive legal actions to avoid harm to your projects. This video might also be helpful for an additional intellectual property resource.

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