Protect

Protect your ideas.

Intellectual property laws can protect you only if you arm yourself accordingly. Hiring a tough IP attorney is a must. But before you shell out thousands, visit the U.S. Patent and Trademark Office website (uspto.gov) to learn about these protections and ensure that your idea hasn’t already been patented or trademarked by someone else.

As early as possible, you should trademark your product name, purchase the corresponding web domain and file a provisional patent application, which won’t break the bank but will allow you to stake a claim on your idea while giving you a year to file a formal application.

You probably won’t be able to afford to patent your products in multiple countries from day one—you’ll likely file a U.S. patent first and add others as it makes sense. But it helps to determine early on where else you may want to market your idea, because once you head down this path, the deadlines for filing patents abroad arrive quickly.