Summary

The article emphasizes the importance of recognizing and protecting intellectual property as a critical business asset, regardless of industry.

Abstract

The article addresses a common misconception among entrepreneurs and business leaders that only technology companies possess intellectual property (IP). It highlights that every business, including those outside the tech industry, generates IP through daily operations. This includes tangible creations like articles, books, and website content, as well as intangible assets such as product names, slogans, and customer lists. The author stresses that IP is often a business's most valuable asset and failure to protect it puts it at risk. The article encourages readers to inventory their existing IP, recognize new IP as it's created, and take steps to safeguard these assets through copyrights, trademarks, or patents. It also promotes the use of an AI service as a cost-effective alternative to ChatGPT Plus for performance and functions related to IP protection.

Opinions

The author believes that many entrepreneurs and businesses are unaware of the full scope of their intellectual property and consequently fail to protect it.
The article suggests that recognizing and protecting IP is a habit that businesses should cultivate to safeguard critical assets.
There is an opinion that appreciating the value of intellectual property can significantly impact a business's success.
The author posits that protecting IP is as important as protecting any other valuable business property, advocating for the use of legal tools like copyrights, trademarks, and patents.
The author endorses an AI service, ZAI.chat, as a more affordable option compared to ChatGPT Plus, for assistance with IP-related tasks.

Stop Putting your Most Valuable Business Assets at Risk

If you’re like most people, you are failing to protect a critical business asset — your intellectual property.

I know what you are thinking, “I’m not in the technology industry, so my business does not have any intellectual property.”

That’s a common, but incorrect assumption!

When you think of intellectual property, you may envision technology companies and the latest breakthrough inventions discussed in the news. That’s perfectly normal!

But, I get puzzled looks when I tell people that entrepreneurs, authors, speakers, thought leaders, coaches, consultants, and all other types of business leaders create intellectual property in the day-to-day operation of their business.

Yes, it’s true!

Every business that’s been in operation for at least a few weeks has created intellectual property.

In fact, for many entrepreneurs and businesses, intellectual property is their most valuable business asset.

For example, you may not realize that articles, books, website content, PowerPoint slides, product names, advertising slogans, and customer lists are all intellectual property. Since people don’t recognize this intellectual property, they often fail to protect those valuable business assets.

I don’t want you to make that mistake!

This one piece of knowledge can make a big difference in your business. By learning to identify and protect your intellectual property, you are far ahead of the average business owner. This knowledge lets you take steps to safeguard those critical business assets.

I encourage you to develop a habit of recognizing the intellectual property you (and your team members) are creating every day. And, appreciate the value of those assets.

Here’s a great way to start:

Take some time to review everything that has already been created in your business. Prepare a list of the creative works and continue adding to the list as you and your team members develop new creative works.

Here are some examples of intellectual property you may be creating:

· Articles

· Books (or e-books)

· Website content

· Advertising/marketing content

· Presentation slides

· Graphical designs

· Photographs

· Audio recordings

· Video recordings

· Company logo

· Company name

· Product names

· Advertising slogans or phrases

· Customer lists

Action Step: After you create your list of intellectual property assets, consider protecting those assets just as you would protect any other valuable business property. Depending on the type of asset, you may think about protecting it using copyrights, trademarks, or patents.