Marketing and the Basics of Intellectual Property

As marketing professionals, we are expected to know many things. However, understanding the importance of intellectual property (IP) seems to be overlooked, particularly in small—to mid-sized businesses. Creating a distinctive and legally protected brand is more than just a priority; it’s a requirement.

In today’s blog, I will explain the critical role of IP in marketing and why a fundamental grasp of IP can immensely benefit marketers. We will delve into what constitutes IP, its specific types, its vital role in marketing, the risks associated with neglecting it, and strategic best practices for marketers to manage IP effectively.

What is Intellectual Property?

The WIPO defines intellectual property as creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce.

Within the realm of IP, there are several different categories, including:

• Patents—A patent is an exclusive right granted for an invention.
• Trademarks - A trademark is a sign capable of distinguishing the goods or services of one organization from those of other organizations.
• Copyright—Copyright is a legal term used to describe a creator’s rights to their literary and artistic works.
• Industrial Designs— An industrial design constitutes an item’s ornamental or aesthetic aspect.
• Geographic Indications—Most commonly, a geographical indication includes the name of the place of origin of the goods.
• Trade Secrets—Trade secrets are IP rights on confidential information that may be sold or licensed.

Each classification safeguards different aspects of innovation and branding.

The Role of IP in Marketing

Let’s begin with the statement, “A strong brand is an asset, i.e., it adds tangible and intangible value to a company’s bottom line.” Therefore, marketers must understand the importance of brand protection and IP’s role in this process.

So, how do marketing and IP intersect?

Let’s focus on two areas that marketers commonly manage: brand assets and content creation.

Brand Assets and Trademarks

Let’s begin with brand assets such as logos, taglines, and product or service names. A common mistake is to think of your brand assets as simply “designs.” A strong brand distinguishes a company by more than a graphic; it is a memorable experience. Therefore, you must be strategic about safeguarding the brand. This is where trademark registration can make the difference.

Every business should consider trademarking one or more aspects of its identity for critical reasons, including:

• building brand recognition,
• deterring copycats,
• preventing confusion in the marketplace,
• and providing legal recourse if trademark infringement occurs.

The USPTO is an excellent resource for learning the basics of trademark law and determining whether your business should apply.

Content Creation and Copyright Law

In today’s business world, most companies publish some form of educational, client-oriented content. While protecting your company’s original work from copycats is important, it’s also critical to understand the copywriting protections associated with attribution. Again, the USPTO website is an excellent resource on the basics of copyright law, including what constitutes a copyrightable work and what does not.

From a marketing strategy perspective, if your company produces any of the following:

Art, writing, images (digital, audio, and motion pictures), music, architectural works, and more belong to the people who create them. U.S. copyright law protects both published and unpublished works.

Yes, YouTube videos and podcasts are protected by copyright law.

Risks of Ignoring IP

Failing to protect intellectual property can have severe consequences for businesses, including reputational damage, loss of market share, and a company’s competitive advantage.

Your job as a marketer is to understand those rights and establish company protocols to ensure everyone understands those rights and why the brand must be protected.

As noted earlier, failing to safeguard your brand can quickly damage a business’s reputation, cause loss of income, erode consumer confidence, and potentially give rise to an expensive and lengthy legal battle.

Best Practices for Marketers

• Education: Consistently augment your understanding of IP principles to fortify their strategic approach.
• Collaborate with Legal Teams: Initiate discussions with in-house counsel or outside legal experts to ensure all marketing materials are within legal bounds. Additionally, discuss the options for registering trademarks, copyrights, or patents.
• Employee Education: Hold periodic information sessions about the importance of protecting the company’s intellectual property. Distribute brand guidelines to all employees.
• Monitoring and Enforcement: Discuss the imperative of consistent surveillance and protection of IP assets. By registering for intellectual property rights, a company plants a legal flag on its intellectual assets, claiming exclusive rights.

However, registration is just the first step. Businesses should also regularly scan their industry horizon for possible intellectual property violations, monitor competitors’ activities, and ensure their trademarks and copyrights do not fall prey to unlawful actions.

Conclusion

To recap, marketers need to understand the basics of intellectual property and implement appropriate safeguards to protect their company’s brand from copycats and reputational harm.

Looking after your business’s IP will provide an advantage in the marketplace by making it more difficult for other companies to offer similar products and services. Protecting your original ideas, products, and images will distinguish and shield your products and services from competitors.

YGL Enterprises, Inc. can provide detailed guidance on how to incorporate IP best practices and accelerate your business growth with strategic marketing solutions. Contact us today, to learn more.

Yvonne Levine, president of?YGL Enterprises, Inc., is a strategic marketing consultant who collaborates with professional services organizations and small and mid-sized businesses to develop and execute successful marketing strategies, branding initiatives, content creation, and digital marketing plans. Helping companies devise a targeted strategy first creates a strong foundation for tactical decisions, which drives brand awareness and positive results. Follow Yvonne on LinkedIn?and?Facebook.