Legally Branded

Why is it particularly important for service businesses to differentiate? How can such differentiation be achieved? In this episode, I talk about some of the steps you can take to help you stand out from among a large number of competitors. Topics discussed: Law firm differentiation The common issues new service businesses face when it comes to the need to stand out The steps to take to differentiate your business Key Takeaways: With such an oversupply of service providers, it’s important for businesses to communicate their point of difference if they’re to stand out from the competition. As you work on your strategy, you will begin to have ideas that encapsulate your point of difference. Getting the help of a coach who understands your industry may be useful to complete the process of identifying whether your ideas for differentiation are capable of standing for something enduring. If so, you can then work on how best to convey the message in a short, clear, and easy-to-understand marketing proposition. Action Steps: The starting point when positioning a business is to take stock of the landscape. What businesses are there already in your space? It’s essential to start by having a good idea of the main one or two services your business will be offering so you can focus your competitor analysis by reference to each service offering. Firstly, consider the local competition in your vicinity. Secondly, look at the competition in the entire country. Thirdly, consider the global competition. Having assessed the competitive climate and the range of service offerings, the next step is to determine your strategy. How will you communicate your point of difference? How might you position yourself as distinct or unique? Is there something about your world view or the way you do business that you could draw from? Does feedback from past clients that you’ve served hold the key to a unique selling proposition that you might develop? Do you have industry expertise which could form the basis of your positioning messages?   Shireen said: “More than two-thirds of businesses nowadays are in the services sector. Their founders have a specific area of expertise, so when they set up a business, it’s to deliver knowledge-based services.” “With an intangible like a service, the customer has no way of judging quality. They don’t know how the experience of working with one provider would differ from that of working with another provider.” Thank you for listening! If you liked this podcast or have enjoyed any of the previous episodes, please consider giving me a review. Let me know what you think about today’s episode and feel free to ask me questions. You can reach me on social media via the links below.   To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.   Links to resources mentioned: Differentiate or Die: Survival in Our Era of Killer Competition by Jack Trout Positioning: The Battle for Your Mind by Al Ries and Jack Trout   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

Why is purpose so paramount? With the current trend of Baby Boomers setting up businesses rather than retiring, let’s take a look at the sense of purpose that drives individuals as I share my own experience. Topics discussed: Why purpose is paramount How mission and values differ from purpose Purpose-driven leaders versus mission-driven leaders My journey toward identifying my purpose Key Takeaways: Getting clarity on purpose is widely advocated as the way to greater success and enjoyment in life and business. Purpose is innate to the human condition. We all want to dedicate ourselves to a cause that’s greater than ourselves. Doing so contributes to our need for significance or meaning. Knowing what your personal purpose in life is should help you to find a job that you enjoy and get fulfilment from. Knowing and communicating the ‘why’ behind the ‘what’ in everything you do not only creates higher motivation and engagement in your employees but also buy-in from your customers. It’s important to inspire and create a shared image of what your business stands for and where you want to be. When you find your ‘why’, that belief should galvanize you into making long-lasting positive changes that drive growth and innovation. Action Steps: Find what you love to do and do it. Figure out your WHY. Keep thinking about your purpose and realise that it may shift in new directions as you grow and develop.   Shireen said: “Your work is going to fill a large part of your life and the only way to be truly satisfied is to do what you believe is great work.” “The only way to do great work is to love what you do. If you haven’t found it yet, keep looking, don’t settle.” Thank you for listening! If you liked this podcast or have enjoyed any of the previous episodes, please consider giving me a review. Let me know what you think about today’s episode and feel free to ask me questions. You can reach me on social media via the links below.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

Are you curious as to why I decided to set up a second business and expect to crush it as an olderpreneur? It isn’t just me. A growing number of people are starting their own business later in life. Find out why. Topics discussed: The Over-50s as the new business start-up generation Age and High-Growth Entrepreneurship (a study by Jones, Javier Miranda of the U.S. Census Bureau and MIT's Pierre Azoulay and J. Daniel Kim) The reasons why older people start new businesses The effects of ageism Examples of individuals who have achieved success at an older age What olderpreneurs can contribute Key Takeaways: According to the Financial Times, statistics show that businesses set up by the over-50s are more likely to still be trading five years later than those established by younger age groups. Older entrepreneurs have a greater chance of success in their projects than younger ones and the most successful entrepreneurs are middle-aged. The greater management, marketing, and finance experience that older entrepreneurs tend to bring to the table, as well as a richer, deeper knowledge of an industry are some of the reasons for their success. Older entrepreneurs are also likely to have larger financial resources to tap and more social networks to mine for support in leveraging their idea. A report from a couple of years ago showed that Individuals between the ages of 50 and 70 were healthier if they kept on working. It’s especially important if you’re a millennial to do work that you really enjoy because you may have to be doing it well into your 70s or at least for a very long time. Action Steps: Get rid of your limiting beliefs. It’s never too late to start anything and be successful at it. Find work that you really enjoy doing. Upskill your knowledge and understanding of intellectual property.   Shireen said: “People don’t change just because their age advances by a few years. Retiring into the sunset to put your feet up and while away the rest of your years is rarely an appealing prospect for anyone.” “What we do can touch other people’s lives in ways that we never know, so it’s not necessarily your own visible achievements that will ultimately matter the most… The important thing is to continue contributing to the world.”   Thank you for listening!   If you liked this podcast or have enjoyed any of the previous episodes, please consider giving me a review. Let me know what you think about today’s episode and feel free to ask me questions. You can reach me on social media via the links below.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

What is the important first step to protecting your idea for an app? What do you need to do before turning to investors for funding? What are some of the factors that will determine your success? Today’s episode highlights all these and more.   Topics discussed: How copyright works to protect an app The limitations of copyright protection The importance of first protecting your idea before turning to investors for funding How to deal with investors and raise investment Factors that affect your chances of success Key Takeaways: The default rules of copyright mean that the creator of the app will be the owner of the copyright in it rather than the person who pays for the development work. A good development agreement should clearly specify what is to be developed, the phases of the development, the payment plan, and how to resolve any disputes that may arise. Copyright protects the expression of an idea and not the idea itself. This means that if someone sees your app and decides they can do better than you, they can also develop the same idea. Action Steps: Before you select the right app developer, make sure that they will be happy to give you a copyright of the end product. Reflect this agreement in writing and also have a good development agreement in place. Don’t agree to terms that only give you copyright when the project is concluded and you’ve paid for it. Be mindful about the limitations of copyright protection. Whatever you do, don’t make the fundamental mistake of asking an investor to sign a nondisclosure agreement or confidentiality agreement to hear about your app idea. You need to have taken all the necessary steps to protect your idea before you turn to investors. Focus on developing key qualities such as abilities to lead a team, which is essential for success in business. Reinvent yourself or find the right team to work with.   Shireen said: “When you have an idea for a new app, bear in mind that innovation alone is no guarantee of success. You need to do thorough research, set your marketing strategy, and really consider how best to develop the app to meet a market need so you can really get going fast with it.” “Obtaining financing isn’t necessarily about the technical feasibility or the originality of the idea itself. Sometimes it can be more about you as a person and whether you’re aware of the qualities and skill sets needed to convince the right people to support you.”   Thank you for listening! Asking Google isn’t enough when it comes to protecting your apps and ideas. Sign up for my Legally Branded Academy Course to receive all the guidance you need to protect your intellectual property. If you liked this podcast or have enjoyed any of the previous episodes, please consider giving me a review. Let me know what you think about today’s episode and feel free to ask me questions. You can reach me on social media via the links below.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

What’s the best way to protect an idea? How do you make sure that your app idea is secure when you’re trying to find the right developer to create it? In this episode, we talk about all the ways you can protect your idea in the early stages of development. Topics discussed: What you can do to protect your idea during the initial stage of development. Things to remember when choosing the right developer. The importance of having an agreement with the developers that protects you. Ways you can protect your app after it’s developed. Key Takeaways: Confidentiality is the only way to protect a mere idea. It’s easy to get excited about a new idea and want to share it with others. Keep the idea for your app confidential when discussing it with people and developers. When interviewing a number of developers to find the best one to work on your project, you should have a different idea to discuss with them so you won’t be hampered with needing a non-disclosure agreement to protect your main idea. It’s up to you to make sure that the agreement with the developer protects you. If there is no agreement between you and the developer then the law automatically gives the developer the copyright in the app because they created it. Action Steps: Develop the habit of being selective about who you reveal your ideas to. Do not discuss your idea with developers right away. Do thorough research on the developers you’re interviewing and make sure you read through their terms of business and legal agreements. Key things to look out for include: Their past experience, client references and testimonials, and how they charge. Make sure that you secure copyright from the developer in writing before you commit to engaging in their services. Otherwise you will not own the copyright in the app. Shireen said: “Confidentiality is the only way to protect a mere idea at this stage. If you have an idea for an app, chances are the first thing you’ll want to do is to find someone to develop it for you. I’d advise against discussing the idea with any developers though.” “Every idea will involve different intellectual property considerations. Some will highlight design protection, you know others may involve a patent protection and yet others will involve copyright. All concepts provide an opportunity to develop a brand.”   Thank you for listening! Asking Google isn’t enough when it comes to protecting your apps and ideas. Sign up for my Legally Branded Academy Course to receive all the guidance you need to protect your intellectual property. If you liked this podcast or have enjoyed any of the previous episodes, please consider giving me a review. Let me know what you think about today’s episode and feel free to ask me questions. You can reach me on social media via the links below. Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

How do you protect your original app idea from being copied by others? And what are the key considerations you need to know when it comes to developing a successful product? We talk about all this and more in today’s episode.   Topics discussed: Why it’s important to protect your app idea from being copied. What it takes to transform an idea into a successful app or product. The legal protections you can use to protect your intellectual property. The importance of researching the different legal tools to protect your app idea. Key Takeaways: Any idea for an app, no matter how groundbreaking it may seem, only has the potential to be a successful product. You’ll need to address various issues along its development before you can transform it into your vision. In the end, the success of your app depends on whether your idea is well received. There is the real problem of how to protect your idea so that you benefit from it. Unless you know how to develop an app yourself, you’ll need to hire the right person or company to develop it for you. This requires using the right agreement to plan the project and protect your interest. Protecting your intellectual property needs to be covered in your plans first and foremost. You need to know how to use the law to support you if you’re to achieve your aims. Ignoring the law can lead to discovering unintended consequences that can prove fatal to your entire project later on.   Action Steps: Critically assess your idea. Spend time doing really thorough research on your product and check it’s market viability. Before you take any steps to implement an idea, take the time to understand the legal protections you can use to protect it. Learn the five principle rights covered under intellectual property, namely: copyright, patents, trademarks, designs, and confidential information.   Shireen said: “Quite aside from the very real practical problem of finding somebody who understands your vision and can deliver an app that reflects what’s in your head, there is a real problem of how to protect the idea so that you benefit from it.”  “If you don’t take the right actions very early on when you’re creating something, if you’re not careful how you implement your ideas, then you may actually lose the opportunity to own a valuable intellectual property right.” Thank you for listening!   You can discover more ways to use the law to protect your next big idea by checking out my Legally Branded Academy Course. Feel free to ask questions or connect with me on social media using the links below. If you liked today’s episode or have learned something new from the series, please consider giving a review.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

Have you successfully captured your intellectual property? Why is failing to do so a costly problem? Let’s look in more detail at the disastrous consequences of failing to capture your IP. Topics Discussed in this Episode: Why it’s not enough to simply register a trade mark Why it’s important to take great care of trade marks Why failing to address IP can result in lost opportunities What to do when you discover gaps in your trade mark protection Key Takeaways: It is surprisingly easy to overlook the importance of IP in the early stages of the creative process. Some people believe that tasks like choosing a business name for a new product or service do not involve legal considerations, that they can pick any name, do a check on Google, and if nothing untoward is found, proceed to use the name. It’s actually trade marks that govern ownership rights in names, so it’s essential to search the trade mark registers. A Google search is not enough. Not everything you need to know about a name shows up on Google.  People risk losing everything overnight when they use names that don’t take account of registered trade marks of others. Online searching has its place but it’s no substitute for information focused on transforming ideas into reality. While there’s a wealth of information on the web, a crucial issue when it comes to intellectual property advice online is that much of what you find is generic, sometimes outdated, inaccurate, conflicting, and may vary depending on where you’re based.   Action Steps: If you’re an inventor, writer, coach, marketer, creative or entrepreneur, you need to know how to identify the various IP rights you’ll be creating as you turn ideas into reality. Some basic tools at your fingertips will help you take initial steps to protect IP like doing due diligence. When you have new ideas to implement, you’ll need to know the right actions to take, the right processes to use to protect IP that’s being created. If you discover gaps in your trade mark protection, find out how to address them with the help of education and DIY. And consult a lawyer if you have remaining questions.   Shireen said: “The internet has revolutionised the way we look for information, entertainment, and even relationships… So it’s increasingly common for businesses to look for legal advice online, too.”   “If you don’t know what you don’t know, how can you search for it or know whether you’ve found out everything you need to know? ...You need to learn to do things properly if you’re going to do your own trademark registration.”   Thank you for listening!   Look into my Legally Branded Academy Course to guide you along the way to a successful implementation of ideas and save yourself significant amounts of time doing your own researches!   If you have any questions, connect with me on your preferred social media platform. I’d love to help! And if you’ve learned from this series of podcasts, do consider leaving a review.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

Even if an idea involves creating something tangible, the product resulting from that idea has many components, which are intangibles, that are necessary to its existence. So if you happen to have a great idea, how do you protect it? In this episode, find out how you can address the challenges of protecting intellectual property. Topics Discussed in this Episode: The challenges of protecting intellectual property The best way to begin to address intellectual property How to reduce the legal costs The intangibles and their impact How to make it easier to build management of IP in the day to day running of your venture   Key Takeaways: For many people, an idea is their key to economic success. Therefore, being able to protect its resulting output as intellectual property is crucial if the business is to grow in value. People assume that they automatically own intellectual property, but this is not true. An action is required to turn an idea into IP. Leveraging IP is how the value embedded in it is realised. A new venture, when it’s just in your head, that’s when you need to understand the risks and opportunities. The best way to achieve success and avoid wasting unnecessary time and energy down the line is to learn the essentials of trademark and other intellectual property that are involved when turning ideas into something that’s out in the real world. Intangible assets cannot be measured unless they are managed. For any new venture, the time to think about IP protection and intangibles is when writing the business plan. And the business plan, when it’s written, should set the strategy on IP matters.   Action Steps: To avoid losing an opportunity and create valuable intellectual property, first identify what it is you’re going to create, what actions you need to take to capture it and, depending on the IP in question, what other actions you need to take. Conduct proper checks of trademark registers. It’s also possible to create a liability instead of an asset where proper checks of trademarks registers aren’t first undertaken. Consider IP really early on in the early stages of a project. Get a good understanding of IP and eliminate the risks that dealing with IP in a piecemeal fashion has. Focus on the intangibles. This is the way you can preserve the investment of your business in its brand, creative efforts, design, and technology.   Shireen said: “The name of the game with intellectual property is to be proactive in the early stages of any project when turning an idea into something concrete in the real world.”   “IP knowledge and skills are how you protect yourself. And even if you intend to use a lawyer, you need to know some of it yourself. It’s just not an option to not understand intellectual property in this day and age.”   Thank you for listening!   Look into my Legally Branded Academy Course to upskill yourself and your team, and discover the roadmap for a successful implementation of ideas! It’s not an alternative to use lawyers, it’s simply equipping YOU with the business skills in today’s digital economy.   To access the free audio on How to Trademark a Name, subscribe to this podcast and download all the past episodes, and send an email to contact@azrightsintel.com saying what time of day you did so.   Connect with me on your preferred social media platform. And if you’ve learned from this series of podcasts, do consider leaving a review.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

What exactly is Copyright? It’s a basic, fundamental question that people often ask me. In this episode, I dive into copyright essentials in order to address gaps in your knowledge of copyright or any confusion you might have around particular facets of the subject.   Topics Discussed in this Episode: Examples of copyright Reasons why you might want to have copyright. Some ideas on how to avoid some common copyright problems.   Key Takeaways: Copyright is one of the core three IP rights that impact every single business and is very wide-ranging in scope. Examples of what copyright protects include photographs, images, maps, drawings, typefaces, music, films, works of art and performances, software, books, videos, content on websites and logos. Copyright is highly relevant in today’s digital environment because most of the ways that businesses operate involve creating different copyright assets. In countries like the UK and former Commonwealth countries like the USA, Australia and New Zealand, it’s not necessary for a work to display a high degree of originality in order to qualify for copyright protection. Names are not, as a rule, protected by copyright under the law. Instead, they are covered by trademark law. A copyright work is an asset. If you don’t own the copyright of an asset that you use in your business, it means you’re licensing that work effectively. Copyright automatically belongs to the creator and not to the person who’s paying for it. The only exception is if a contract states otherwise or if the work is undertaken for you by your employee during the normal scope of their duties. Content online is not in the public domain.   Action Steps: If you’re from a copyright-dependent industry, find out a lot more about copyright. Copyright should be an uppermost consideration. Make sure that the works you’re having created will belong to you. And if they’re not going to belong to you, then make sure you negotiate all the necessary permissions that you’re going to need for your intended use of that copyright work before you commit to using someone’s services. If you engage someone to do work for you, such as to build a website, before you engage their services and give them your best ideas, make sure your written agreement with them covers copyright ownership. Find out what the copyright rules say in your country and how they impact your plans. In an increasingly global marketplace where it’s quite common to engage the services of freelancers based in other parts of the world, you should agree which country’s laws will govern your contracts. Don’t leave copyright discussions for later. Pay close attention to define details at the start of a project. Don’t assume that your web designer or other professionals whose services you engage know what materials or images they may or may not use. Do your own verifications.   Shireen said: “Strategic use of intellectual property makes a big difference to a business’ fortunes. So IP is a very important consideration in any venture, whether you’re starting, growing, or exiting a business.”   “Think of copyright as you might think of a plot of land... The copyright owner is the person who has the right to exploit the rights in their assets, just as the landowner can exploit the rights in their land.”   Thank you for listening!   It’s really worth having a process in place in your business to cover off the copyright risks that you run. A really easy way to do this is to buy my Legally Branded Academy Course. It has everything you’ll need to address these copyright risks as well as cover other IP issues to bear in mind in your business.   To access the free audio on How to Trademark a Name, subscribe to this podcast and download all the past episodes, and send an email to contact@azrightsintel.com saying what time of day you did so.   Connect with me on your preferred social media platform. And if you’ve learned from this series of podcasts, do consider leaving a review.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

How does understanding the limitations of IP help you become commercially savvy? Indeed, IP needs to be considered carefully when creating, growing or preparing a business for exit. What are the things we need to know and understand? Topics Discussed in this Episode: How Google built itself into one of the world’s largest brands The IP limitations and why it’s important to know and understand them Examples of businesses that spawned copycats How venture capitalists make money by exploiting these IP limitations The repercussions of becoming too successful with your IP The elements of a business model that might be protected Other intellectual property rights beyond the big four of copyright, trade marks, patents, and registered designs How, when and whether you should release your know-how and ideas   Key Takeaways: Any business with ambition to grow should make it a priority to understand how intellectual property rights affect it. Intellectual property rights don’t protect ideas; instead, they protect the particular expression of an idea. It’s impossible for anyone to keep a profitable niche to themselves, nor is it possible to patent a business format so as to keep a format to yourself. Intellectual property rights are primarily limited by geography. The fact that IP protection has its limits should not be used as an excuse for not securing any IP protection at all.   Action Steps: Increase the protection of your business by holding a wide portfolio of IP. Give your business or product a name that’s distinctive enough to qualify for trade mark protection. Secure the copyright over your materials. Register the design of something like your logo. Actively police your intellectual property rights. Always put in place appropriate contracts. Be smart about how, when and whether to release your know-how and ideas.   Shireen said: “We live in a world where the prevailing philosophy is to publish and spread your ideas to profit from them. Unfortunately, by sharing your ideas you increase the risk of giving competitors a chance to pinch your ideas, business model or product offerings for themselves.” “Simply by securing IP rights, you may deter copycat-ism because savvy business people will take note of your rights, rather than infringe them. So the common myth that it’s not worth securing IP rights if you can’t afford to go to court to defend them is misguided.”   Thank you for listening! If you haven’t already taken the time to fully understand IP, I highly recommend that you sign up to the Legally Branded Academy Course. It’s not expensive and it’s a business course suitable for a worldwide audience. Connect with me on your preferred social media platform. And if you’ve learned from this series of podcasts, do consider leaving a review.   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

What does intellectual property have to do with the value of your business? And how do you increase it without increasing turnover? Find out as I dive into this topic and impart valuable knowledge about intellectual property and the crucial things that you need to know especially if you’re growing your business or preparing for exit. Topics Discussed in this Episode: The way to increase the value of your business Intangible assets as intellectual capital The factors that affect company valuations Examples of sales that haven’t depended on turnover (Facebook’s acquisition of Instagram and WhatsApp) Why you need to secure your IP sooner rather than later Example of how a business’ online dimension can lead to a huge valuation (Ctrip’s purchase of Skyscanner) The difference between intellectual property and intellectual capital Key Takeaways: Focusing on turnover is not necessarily the way to increase the multiple that your business might achieve on exit. Contrary to popular belief, the traditional methods of valuing a business that is used by accountants are not always the yardstick by which your business will be valued. Synergies within businesses can result in a valuation which is far higher than the company turnover or traditional methods of valuation that you might believe the company is worth. We’re living at a time when any company, even a small business, could increase its value by focusing on its intellectual capital. The four categories of intellectual capital: The human capital The customer capital The structural capital The social capital 70% of businesses are in the knowledge services sector, so knowledge is the most valuable asset of a business and managing the intellectual assets has become a business’ most important task. The brand is the most important asset of your business to develop. How the business interacts with customers is more important than what it sells. Action Steps: Pay attention to the various components of your business’ intellectual capital. Plan your exit strategy very carefully. Start by getting the nuts and bolts of your business sorted, i.e. your intellectual property. Secure your IP protection sooner rather than later. Use intellectual property to increase your valuation and build your brand. Get the right people on your team before you start down the path of your growth. Create deep, long-lasting relationships with your customers.   Shireen said: “As the web and technology become more and more important in our lives, it means that intellectual property is a critical area to upskill yourself in so that you can be sure to take the basic steps that you need to take on an ongoing basis, to ensure that your assets are secured.” “If you’re looking for ways to improve your business value, consider developing your systems and processes rather than just focusing on increasing sales and other revenue-generating activities.” Thank you for listening! If you haven’t already taken the time to fully understand IP, I highly recommend that you sign up to the Legally Branded Academy Course. It’s not expensive and it’s a business course suitable for a worldwide audience. Connect with me on your preferred social media platform. And if you found this episode useful, do subscribe to the show and leave a comment or review.   Resources mentioned in this episode: The Culting of Brands: Turn Your Customers into True Believers by Douglas Atkin   Links to my books and online courses: Books: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

What’s in a name? What are the important things to remember when choosing one for your business and how can you protect it? In this episode, I dive into the importance of having a name that will make you stand out and why you should register a trademark. Topics Discussed in this Episode: Why names are important The mistake of adopting a name that can’t be yours The primary concern when choosing a name Why you should choose a name that can function as a trademark The risk of having a descriptive name Why you should register a trademark Key Takeaways: Names are probably one of the most important choices you make in terms of your intellectual property rights. By giving your offering a good name, your identity will stand out and help you to build a business on strong foundations. A brand name which you develop your brand identity around is analogous to a plot of land on which you might build a house. The designs, logo, and other identity creation work are the equivalent of buildings you might put on a plot of land. Legal effectiveness is the most important aspect of names because the objective of a name is to enable you to stand out and differentiate yourself from competitors. Customers find you by looking out for your brand name, so it’s crucial that your name is unique and distinctive to you. Over time, your brand will develop a reputation. It will also be associated in the minds of your consumers with things like the quality or value of your services, the fashionable nature of your goods or their exclusivity. So it’s important to register your rights in the name to make sure it’s firmly yours. The key to success in business is to differentiate your offerings from that of others in virtually everything you do.   Action Steps: When you choose the name of your brand or your business, keep in mind that a mere name evokes certain reactions and emotional responses. It can give customers an idea or feeling about your business even before they’ve used your services. Be mindful of IP principles so that you can create a valuable intellectual property for yourself. Don’t adopt a name if it can’t be yours. Do thorough due diligence checks on a name and be risk-averse when it comes to choosing one.   Shireen said: “However perfect a name may be, if it belongs to someone else or can’t function as a trademark, move on and find another because you’re not going to be doing yourself any favors using that name.” “In business, we have to assume that we’re going to be successful. So think big… and worry more about protecting your distinctiveness… Don’t be tempted to take the easy way out unless all you’re doing is gauging interest for a new concept. ” Thank you for listening! If you want to learn more about names, visit my website and sign up to the free video course on names while it’s still available. Connect with me on your preferred social media platform. And if you haven’t already done so, do subscribe to this podcast and download all the episodes to access the free audio on How to Trademark a Name. And I would love it if you would be good enough to leave a review! I will read every single one and take your feedback onboard.   Links to my books and online courses: Books by Shireen Smith: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

Pablo Picasso reportedly once said, “Good artists copy, great artists steal.” This is true not only in art. Thieves and copycats are as rife in business as in every walk of life. If so, how can you protect your ideas from getting copied or stolen? What are the steps you need to take to protect them? Topics Discussed in this Episode: How to protect ideas against theft by competitors and others The importance of confidentiality How the patent system works The rationale behind IP When to use a non-disclosure agreement (NDA) The case of Microsoft’s Tablet PC versus Apple’s iPad How to maintain your competitive advantage The use of confidentiality to keep methodologies and recipes a secret Key Takeaways: Keeping ideas secret is fundamental to protecting them. And in business, you need to be very, very aware of this. And it’s the same the world over. Confidentiality is one of the core three IP rights, and it’s a very important way in which ideas, systems, processes, and databases are protected. Every great innovation began simply as an idea in someone’s head, and the patent system will only grant a patent on innovations that are not in the public domain. The trade-off that the state gives us for revealing our ideas is a monopoly right, so keeping them secret initially is a vital way of protecting ideas. The state is constantly doing this balancing act. The rights that they give have to be strong enough to encourage the creation of intellectual goods and divulging of information in return for a patent, but not so strong as to stifle creativity or prevent the wider use of those ideas. If you’re coming up with something innovative, expect others to jump on the bandwagon and copy. Copyright does not protect the underlying ideas. It only protects the way you express them. The copying of ideas may pose a serious threat to your business. The more crucial your idea, the more steps you should probably take to protect it. It’s how an idea is implemented rather than the idea itself that determines how well it’s received in the market.   Action Steps: Develop the skill of knowing what to reveal, how much to reveal, and what to keep confidential about your ideas. Keep your idea a secret if you think it might potentially be patentable. If information about it leaks out to the public domain, it is no longer protected. When you have new ideas, carefully weigh up who you’re going to disclose them to and how. That’s how you manage the bloody world of competition. There are huge commercial advantages to being first to market, but you need to constantly improve and refine your offering if you’re to maintain that advantage. Keep staying ahead of your competitors. Even though they copy you, make it so that you’ve already moved on and actually improved the product and learned new insights. Some ideas need to be launched and developed very fast because that’s just their nature. If you’ve got a good idea that’s going to attract copycats, then be ready to really push forward with it very quickly. Go to market, promote it, gain traction, make sure that the proposition is properly developed and implemented before launch, recruit beta customers to test it, and get feedback. Try to stay objective when weighing up your competition. It’s important not to get overly paranoid about what you’ve got. Temper your fears with a large dose of realism. Bear in mind that copyright does not protect the underlying ideas. Don’t get a false sense of security from the fact that you’re going to have copyright if you’ve published your ideas. If you decide that your idea needs to be kept a secret either for a while or forever, then act accordingly and create proper boundaries around it, using the right sort of agreements with anyone you work with. You need to think it through very carefully and probably get advice.   Shireen said: “If an idea is before its time, either don’t rush in if doing so will tip off competitors… or launch and keep improving the product -- constantly improving. You just can’t stay static.”   “For many ideas, even if a competitor takes inspiration, you will still offer something unique to potential customers, something that only you can bring to the table… But on the other hand, don’t assume you’re unique if you’re not.” Thank you for listening!   If you want to start, grow or exit a business and manage the risks and opportunities correctly, sign up to the Legally Branded Academy where you can learn the essential actions to protect your IP and get a wealth of resources.   Connect with me on your preferred social media platform. And if you haven’t already done so, do subscribe to this podcast and download all the episodes to access the free audio on How to Trademark a Name. And I would love it if you would be good enough to leave a review! I will read every single one and take your feedback onboard.   Links to my books and online courses: Books by Shireen Smith: Legally Branded Intellectual Property Revolution Legally Branded Academy Course Legally Branded Monthly   More from Shireen Smith: Shireen’s Facebook Page Shireen’s Twitter Shireen’s Instagram Shireen’s LinkedIn Shireen’s YouTube Shireen’s Website Azrights

Chapter 14: Having discussed the importance of brand names and the need to protect them, it is worth looking at some naming strategies. Taking time to consider your naming strategy in advance makes it easier to pick names and reach decisions later on. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.

Chapter 13: Domain disputes often arise when someone else registers a name that is similar to an existing registered trademark. One problem that has plagued many businesses online is cybersquatters. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.

Chapter 12: One of the major consequences of infringing on someone else’s trademark is that you may have to rebrand. What that entails in practice will be a lot of inconvenience, possibly at a time when you’re busy. Anyone with experience in business knows that the greatest risk a business runs is lack of time to implement solutions that will help it to thrive. So being required to rebrand would be a distraction which could jeopardise the business as a whole. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.

Chapter 11: When creating a new brand, it can be confusing to know in which order to do things – such as choosing a suitable name, registering domain names, incorporating and designing logos. Generally, people tend to carry out these tasks in the wrong order, often before getting any legal input on availability of the name. They tend only to think in terms of protecting the brand once they’ve already created it so that it’s possible they’re using a name that is not legally available. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.

Chapter 10: Although it’s true that you don’t have to register a name as a trademark to use it in many common law countries, this does not mean that you should nor secure the added protection and exclusivity over your brand name that a registered trademark affords. So, it’s misconceived to assume there is no urgency to register a trademark simply because using a mark or name gives you certain trademark rights in the name. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.

Chapter 9: Names can become descriptive, or generic, once they evolve into a commonly used term or way of describing a particular service or product. That’s when they are vulnerable to losing the protection of trademark law. This is sometimes referred to as genericide and can be a significant blow for trademark owners, as it means they can no longer enforce their rights in the name. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.

Chapter 8: Whilst the classification rules which restrict others from using names in overlapping classes apply to ordinary marks different rules apply to marks that are famous. Well-known marks have a much broader scope of protection. This is due to their widespread reputation or recognition which means they enjoy the same protection as if they had been registered in each of the 45 classes. To access our free ebook and audio of How To Trademark a Name, please subscribe. Then download all past episodes and send an email to contact@azrightsintl.com saying when you downloaded them. We’ll then send you access.