How To Protect And Manage Intellectual Property When Changing Your Business Name?
Every business should safeguard its Intellectual Property when undergoing a name change. Unfortunately, some businesses neglect to take concurrent measures, inadvertently benefitting their competitors. Consequently, numerous businesses end up forfeiting their trademarks and intellectual property rights. In this blog post, we will delve into the reasons behind businesses losing their intellectual property during a name change and explore the correct solutions to prevent such occurrences.
Make Sure That Your Intellectual Property Is Being Protected
Ensuring the protection of your intellectual property is essential. Therefore, it is advisable to secure IP Protection before initiating the process of changing your business name. Some entrepreneurs may opt to proceed with the business name change before verifying their IP rights. If, after the name change, you discover that your IP protection has lapsed, it will necessitate additional time and financial resources to try to reinstate it.
Mention Projects and Contracts
When transitioning from your previous business name to your new name, you likely have a history of completed projects and existing contracts with other companies. It is imperative, during the filing process of your new business name, to explicitly disclose these prior engagements. If you're unsure about creating a comprehensive document for this purpose, consider seeking assistance from an IP Consultant. They possess the expertise to incorporate and update the necessary information for your new business name filing process seamlessly.
What should you do when you forget to mention the Intellectual Property of your business to a new one?
Attempting to resolve IP issues without expert guidance can be a time-consuming process when it comes to reclaiming your intellectual property. Therefore, it is advisable to seek assistance from IP Consulting Service Providers who can expedite the resolution of your concerns. Do not dismiss this as unnecessary, and make a point to engage certified professionals for these services.
Closure
Now, you have a more clear understanding of the correct way to change your business name without jeopardizing your intellectual property. When you've established a brand, there's an inherent risk in altering its name, making it wise to seek guidance from a Patent Attorney or agent to safeguard your business assets indefinitely. If you're contemplating a business name change with the assistance of a certified law firm, consider choosing IP Consulting Group as your ideal partner. Our team consists of certified professionals who can address your intellectual property requirements effectively. Take advantage of our complimentary 30-minute consultation to fortify your IP protection.
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