A sample text widget
Etiam pulvinar consectetur dolor sed malesuada. Ut convallis
euismod dolor nec pretium. Nunc ut tristique massa.
Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan.
Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem,
suscipit in posuere in, interdum non magna.
|
 Now is the Time! When is a good time to evaluate your intellectual property particularly trademarks, copyright, or patents? Prior to starting a business or expanding a thriving business are two opportune times. Many new business owners ignore the benefits of trademarks and copyright mostly because of uncertainty about the process and potential costs associated with the application. This is a grave mistake. Your intellectual property is an asset to the company and adds value when looking to finance, merge, or expand.
Defining the terms
Trademarks, patents, copyright, domain names, and business name registration differ in subtle ways. Domain names are used to identify Internet “real estate” and registered business names are used to legally describe a business entity.
You can view a great video on the basic facts surrounding trademarks presented by the US Patent and Trademark Office. It is about 40 minutes long; so you will probably save time by reading my previous post about Intellectual Property Lawsuits summarizing the differences.
Intellectual property (IP)
 Intellectual Property is a Valuable Asset Many small business owners equate IP to patents, logos, or copyrights on a document. This is just the tip of the iceberg. Intellectual property may include, domain names, registered business names, video, documents, music, photography, white papers, presentations, pod casts, processes, designs, inventions, innovations, etc. The key is the decision of what to protect and the headaches a company is willing to endure to do it. As mentioned in my other post, litigation for patents and copyright infringement is a big business with a big price tag. As a small business owner/operator, you should conduct regular cost/benefit analysis to maintain intellectual property “value” and to answer these questions:
- Are all the necessary protections in place to cover all aspects of my IP portfolio?
- Is our monitoring effort adequate?
- Is there adequate finance to litigate a violation or an infringement?
- Is it worth it or better to settle out of court?
Basic protection
A careful review of basic facts about trademark, copyright, and patents will help to understand the potential areas of focus in creating your IP strategy. At bare minimum, protect your logo, digital assets, inventions, designs, and custom processes that separate the company from competition. The cost is far less than the potential loss. Take the time to protect your assets. The first step is contacting us to advise and facilitate the process.
January is traditionally a time of reflection, cleaning out the old to make way for the new, and  evaluation of personal environment. Many of us attempt to define personal goals, set agendas, and reach for the stars. The problem lies in creation of realistic habits and not failed attempts. By nature, humans use trial and error to learn about themselves, life, and impact of their environment. Each of us is a collection of individual experience, thoughts, ideas, and beliefs. This makes us individual and special. Any personal changes should keep that in mind.
Rule 1: Be on time
If nothing else in the coming year, change the way you handle time. In business punctuality is a simple rule to follow and builds intangible value by creating credibility, trust, professionalism, and accountability. Don’t be defined by “5 minutes late,” rather focus on preparation, execution, and opportunity. Easy to talk about but difficult to enact or else it wouldn’t be the first rule to follow. The key to punctuality is awareness of time and understanding how to maximize benefit through strategic planning. Start with a review of the coming week and establish a realistic “time cushion” to make sure appointments, tasks, and projects are completed on time. If you are unable to do this, reduce the number of events and focus energy on a smaller list. Remember creating a habit of punctuality doesn’t happen overnight and will take time, planning, and thought.
Rule 2: Create an agenda
Attempting to manage time has created an endless ocean of books, practices, methods, training, software, and specialists attempting to force feed individuals and organizations with their version of a secret sauce for success. In my mind, it simply comes down to expectation. Knowing what you want for a given amount of time will stimulate the necessary thought for preparation, execution, and evaluation leading to the second rule. Create an agenda by starting with three items/tasks/goals for everything you do. No software, forms, or books are necessary. Simply write down or dictate to yourself three things to accomplish. Simple, direct, and measurable. When you achieve your objectives success is guaranteed. The process will become part of your core competencies. Start with appointments, projects, or tasks that will occur in the next seven days and detail measurable agenda items for each. If the task seems too daunting, simplify and focus on a smaller list to begin the process.
Rule 3: Stimulate value
Building a relationship between objectives and results comes from understanding value. The first step is identifying personal value and defining ways of building value in others. This leads to the third rule: stimulate value in yourself and others. Value creation starts with introspection and validation of self. In business this means knowing your value proposition, creation of a monetary unit (how much is your time worth), development of core competencies, and managing communication methods. The next step is application of key value concepts to relationships finding points of commonality. Become a great listener and interact with others on their terms. Once common ground is reached value management can begin and set the foundation for human capital development.
Applying these Rules
It is great to read about punctuality, agendas, and value management but what is the best way to accomplish them without too much disruption and still have realistic opportunity for success? The answer is to start small. Concentrate on the next seven days and develop the techniques and strategies mentioned above. Start today by listing three objectives for an appointment, event, or task tomorrow. Write out your value proposition and calculate your monetary worth. Get in touch with three of your closest business contacts and find out three things you didn’t know about them before. Write them down and compare them with your value creation. This will lead to the first areas of commonality.
Return to Top...
|
|
