Issue link: http://www.insightdigital.biz/i/425993
w w w . i n s i g h t o n b u s i n e s s . c o m D e c e m b e r 2 0 14 • I NSIGH T | 25 I N S I G H T O N B U S I N E S S S E R V I C E S B y M a r y B e t h M a t z e k W hen it comes to the topic of intellectual property — intangible assets such as artistic work, discoveries, inventions, names, symbols and designs — many businesses don't give it a second thought. But that kind of thinking can end up being a costly mistake. "Business owners need to be thinking about IP issues and have money put aside in their budget for IP legal issues," says Tom Wilhelm of Wilhem Law Office in Appleton. "I've had cases where clients didn't do that and wound up being in a legal bind." Wilhelm says there are at least two IP issues all businesses owners need to check out: the company name and its website. He says owners need to make sure the name they're planning to use hasn't been trademarked by anyone else in the same industry in the same state. e next step is to make sure all the content being used on the website — photos, graphics and copy — are either original or are being used with permission. If not, Wilhelm says the law stipulates that the creator — for example, the ad agency who made the website — owns the content. "And if you want changes, but for some reason want to go with another provider, you can't just go and get the changes made. You have to go back to the person who created the site and they can charge you whatever they want to make those changes," he says. "Or you have to start from scratch." Issues like that are why business owners need to make sure they have an IP attorney look over contracts involving anything being created for or by the company, Wilhelm says. "We can spot things like that and say, 'You should do this' or, 'is contract doesn't protect you if the company uses an image without getting permission first.'" While being careful not to misuse someone else's content or original material, businesses also Watching your assets Technology makes intellectual property protection more important than ever "ere's a steady trickle of people who pull photos off the Internet and use them on their website and then get a letter telling them they are using the image without permission and they owe $3,000. at's a letter no small business owner wants to get," Wilhelm says. Another caveat concerning the website and all marketing materials is to carefully read the contract with the creator of the website to make sure the business owns the material. [continued] » While people usually link intellectual property and patents, the topic is much broader and needs to include copyrighted and trademarked information as well as business trade secrets. – A n d rew L a n d s m a n , at to r n e y w i t h G o d f re y & K a h n S . C .