Having an IP is the basic foundation for a lot of companies. Like Google and its algorithms, Microsoft and its games, or even publishers and their narratives. Its what gives these companies the edge in terms of their business. So protecting your IP is extremely important. I will protect my IP with copyrights, patents, and disclosure agreements.
The copyright will be used for the slogans and brand of the company. Having copyrights for these parts will ensure that no other fake company or competitor can come into the market and pretend to be us and take customers away from us. It also will show the legal system and judges in court (if we ever have to go to court over copyrights) that we were protecting our brand and deserve to be protected under the law.
Patents will be use on the invention of the hardware for the gym machines. Since we are designing a new technology for gym equipment we do not want it to get stolen or copied easily and loose our edge. However, a patent is expensive so for the first year we will hold out on getting a patent and just keep it a trade secret. This will mean we have to use disclosure agreements and NDAs to ensure no one leaks out the information to another company. After a year will get the patent filed and be protected under the law for our invention.
Without these means for protecting every company with a secret would be so locked up in terms of secrets and information we would not see the amount of innovation today. That is why they are important to have now so that future technology keeps on innovating for tomorrow.
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