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Intellectual Property is Forever

Writer's picture: Keith FraserKeith Fraser

It’s not that life is short, as Seneca reminds us, it’s that we waste a lot of it. And why do we waste this precious resource? It’s because we think we have an unlimited amount of it.

We tell ourselves this lie- I’ll do it tomorrow. I’ll do it later. I’ll do it when circumstances feel better. The Fact is, you don’t know that you have tomorrow.

 

So, what does Stoic Philosophy have to do with intellectual property?

 

 Well, I want to remind you that most legal processes that are in place to protect your intellectual property require timely action on your part. You can’t wait until tomorrow. Or at least you shouldn’t.

 

Registering Trademarks for example is on a first to file basis. Meaning, if someone files a trademark application that is the same or similar to yours and they file it before you do, you are going to be out of luck. And by the way, the trademark office loves taking a very expansive view of what is considered a “similar” trademark and to reject applications on this basis. So, if you come up with that perfect brand name that you absolutely love, do not waste time in filing the trademark application for it.

 

Likewise for patents. If you have invented something, you must file quickly, before someone else out there files a patent for the same or similar invention. And, again, like the trademark office, the patent office loves to reject applications on the grounds that something similar has already been patented.

 

And for Patents it goes even further. Patent Law in the US includes something called the “on-sale bar” doctrine.  If you invent something and place it into the marketplace- you will be barred from getting a patent on it forever if you do not file for a patent within 1 year of that first on-sale date.

 

Procrastination and patents do not go well together.

 

As for copyright, your copyright rights begin at the moment of your creation of the work. But-again, if you do not file to register your copyright right away, you risk losing some important statutory rights related to your copyright.  Namely the right to certain damages and attorneys’ fees if you ever have to enforce your copyright in court.

 

But more generally -and much more importantly- you are living at a moment in time when the opportunity for you to monetize your intellectual property on a global scale has never been more present and available. And that opportunity to do something with your intellectual property, your creative or entrepreneurial works, goes beyond the monetary. To include doing something meaningful, something that will leave a significant worldwide impression.

 

 Again, going back to the ancient Romans, the poet Ovid, speaking of the influence that his writings would have, his “content” if you will.  Remarked: “I have built a monument more lasting than bronze… that no consuming rain, nor wild north wind can destroy…”. 

 

Whatever stage that your intellectual property is in – whether it’s merely the kernel of an idea or it’s a fully formed product or service ready to go  – and whatever form your intellectual property takes – be it trademark, patent or copyright, it is essential that you recognize the value it has and the  contribution you can make with it… But you must also recognize that it is also essential to take the necessary immediate steps to protect it.


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