Stand out from your competitors (Page 4 of 4)


Next steps

Integrating IP into your business and using it as an asset will help you achieve your business objectives. The following summarizes the key elements in learning more about IP and developing an effective strategy that is in line with your business plan.

Do your IP homework first

  1. Start exploiting IP information — it's to your advantage. Learn more about the Canadian IP system and the related laws that govern it.
  2. Find out about the various types of protection at your disposal and discover how it applies to your own situation.
  3. Take stock of what you have. Start building an inventory of your IP assets to include in your business plan, and make sure you actually own the IP you think you own.
  4. Look at various information sources either from CIPO, your legal or business advisor, or an IP professional, such as a patent or trademark agent, and consider the various ways you can use and exploit IP in your overall business.
  5. As a first step prior to investing in your IP assets, explore trade secrets and confidentiality agreements to, at least, keep processes or proprietary knowledge secret.

Legal protection

  1. Assess the situation and look at all options. See what is covered under common law or civil right and consumer protection legislation (fair trading). The protection already offered may be adequate and suit your purposes.
  2. Assess the advantages and disadvantages of each option. Start looking at creating a winning strategy to fully protect your valuable IP assets to indeed give your business a competitive edge.

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