Novel IP investigations are critical if you believe that your intellectual property has been violated or stolen. If you have created a new product, idea, process or concept, then you are entitled to protect that original idea from being stolen, reproduced and commercialised without your consent or acknowledgement of your efforts. Piracy of films, television shows and video games continue to be the most common breaches; however, the rise of streaming has minimised this somewhat.
In many cases, it isn’t easy to ascertain who was responsible for the original idea or product. Indeed, this is why you must protect your intellectual property with a patent, or trademark or copyright as soon as legally possible. Here are several reasons why you might need to pursue Novel IP investigations to protect your brand and business creativity.
You believe a violation has occurred
There are several different ways that intellectual property laws can be breached or violated. The most common methods are as follows:
- Copyright abuse
- Violating trademark laws
- Imitating a competing brand
- Copying a similar product (e.g. design)
- Breaching industry or trade secrets
- Security leaks/breaches
However, it can be hard to discern whether one of these violations has occurred, since the signs of it happening can be both subtle and overt. Not sure what you need to be on the lookout for? Well, check out some of the advice from experts in Novel IP investigations below:
A competitor has consumed your market share
If you have developed a new product or idea, then your business has to comply with trademark registration in Australia. This means that you have a monopoly over the market – ensuring you have maximum market share. If you have a patent over your specific product, then be on the lookout for competitors over the next few months and years. They are limited in terms of what they can do to compete since they can’t copy your product for their own commercial gain.
So, if you notice that your market share/revenue has decreased and you believe a competitor has violated a patent or copyright, Novel IP investigations can help you significantly. Indeed, using these services, you can identify whether a law has been broken, and more importantly, whether you have grounds for financial compensation.
Your website traffic is down
A very subtle indicator that your intellectual property might have been compromised or breached is if your website traffic starts getting less and less traffic. For example, some website domain names are very similar, which can cause legal problems if both domains operate in the same industry or competitive space.
If a competitor creates a domain name that is similar to yours or phishes another website domain, there could be grounds that they are purposely tapping into your brand’s reputation and goodwill, as a way of poaching some of your clients and customers. If you believe this is the case, then organise Novel IP investigations to ensure your intellectual property is still secure.
Your corporate identity is being exploited
Sometimes, counterfeit sellers might brazenly sell under your business name as a way of exploiting your corporate identity for their commercial gain. If you start receiving messages from disgruntled clients claiming to have received a dodgy product or service “from you”, make sure you follow up with each customer. This is because it is likely a sign that someone is knocking off your brand name and selling low-quality products at your prices. This is a violation of your intellectual property and warrants the use of Novel IP investigations.
In summation, there are many critical reasons why you should organise Novel IP investigations to protect your intellectual property. If you’re unsure about your legal rights, reach out to a professional firm for clarification.