Licensing your business begins with IP.

What is Intellectual Property (“ IP ”)

This article is "PART I. Intellectual Property", of the series How to License My Business.

Morgan & Forb, PLLC is a business, franchise and licensing law firm.

Licensing begins with IP. Intellectual property is the foundation to licensing your business. Intellectual property rights protect original works and creations. The public policy rationale is to encourage and protect creativity, originality, and associated profit. Only those with permission may use your intellectual property.

Rights ( $ ). You have the right to profit from your IP. For example, your logo may have commercial value because it is recognized and thus attracts customers (leading to sales).

It is important to preserve and protect your IP’s commercial value. This is accomplished by registering your marks and controlling the use of your IP.

No filings required… You might have some limited rights to your trademarks without filing or registering. These are called common law rights, which are generally limited to your geographical area.

… but official registration is best. Federally registering your IP can provide for broad protection. It is the highest form of protection.

Exclusivity.

As the owner, you have the exclusive right to use your IP in business. You may permit others to use your IP by licensing.

Stop Misappropriation.

Misappropriation occurs when someone uses intellectual property without permission, which can result in lost profits and overall diminished commercial value. Misappropriation is a form of theft.

IP is a form of property. Intellectual property is a form of intangible property. Tangible or intangible, the form does not matter. You may use your property as you wish, including exclusively and without misappropriation.

Enforcement & Licensing. This article is a part of a series on Licensing Your Business, and its purpose is to provide the foundation of how licensing works.

Although IP law can be considerable, planning, enforcement, and licensing are all intellectual property tools that should be deployed.

It all begins with you. Licensing your business begins with you! At Morgan & Forb, we understand that every business is unique. Contact us to see if licensing might be a fit for you. Our evaluative processes ensure each license we create is carefully detailed to your business needs. Call (704) 287-9093, click www.morganforb.com, or email support@morganforb.com to get started today!

Stay tuned for more on Licensing Your Business!

Craig Morgan is a business, franchise and contracts attorney and a partner at the law firm Morgan & Forb, PLLC. Licensed in North Carolina and Ohio, we serve intellectual property and franchise clients nationwide. To speak with one of our attorneys, please call (704) 287-9093 or click here. We offer the initial call at no cost to you.