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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
November/December 2022
Protecting Intellectual Property
Intellectual property (IP) can be a significant asset that increases your business's value. Failing to protect IP can leave you with no recourse if a competitor or former key employee appropriates methods or processess you've developed.
What is Intellectual Property?
In general terms, intellectual property is any product or service you’ve created that the law protects from unauthorized use by others. Businesses can own these intangible assets in the form of patents, trademarks, copyrights, and trade secrets, and they can be bought and sold just like tangible assets.Help with Safeguarding IP
Any information you don’t want others to know can be protected. An intellectual property attorney can advise you on the protections you may need to help prevent competitors from using your IP. These could include the following:Copyrights protect software, graphics, video/sound recordings, databases, books, and blog articles.
Patents protect inventors by giving them the legal right to exclude others from making, using, or selling an invention for a limited period.
Trademarks protect things that identify your brand, including words, phrases, symbols, designs, or a combination. Logos, colors, names, taglines, and slogans all can be trademarked.
Trade Secrets include any confidential information that give a business a competitive advantage, such as distribution or sales methods, strategies, production processes, and even lists of vendors and clients.
Add IP to Your Business Plan
Protecting your business’s intellectual property should be an integral part of your business plan. Include money in your budget to pay for securing your IP rights. As part of your plan, ensure that key employees, contractors, and business partners are bound by non-disclosure agreements.Insurance Protection
Your business’s general liability insurance coverage may offer limited protection in the event of litigation. However, you may want to purchase specialized intellectual property insurance that covers the legal cost of pursuing infringement or theft of IP.GE- 4898187.1(8/22)(Exp.8/24)
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
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