Do You Own What You Think You Own? Legal Due Diligence Matters!
Legal due diligence might not be sexy, but it is essential if you want to turn your expertise -- legally and safely -- into scalable, recurring revenue. 📈
It all starts with one important question: “Do you own what you think you own?”
Importance of Written Agreements:
Always ensure you have a written agreement when creating any intellectual property asset. Without it, you might not own the rights to your own work or the work you paid others to create for you.
Understand Joint Copyrights and Ownership:
Collaborations can be tricky. Unless specified in writing, both parties may equally own the intellectual property created together, allowing each party to use and license it without the other party's consent.
Increased Visibility Equals Increased Scrutiny:
Expanding your business, especially through licensing, puts your IP under greater scrutiny. More eyes mean a higher risk of discovering potential ownership issues you didn’t expect.
Navigating the complexities of intellectual property is the cost of building a resilient and scalable business. But with a little (due) diligence, you can successfully avoid potential pitfalls.
📣 I'd love to hear your thoughts on this topic. Feel free to share your experiences or ask questions by hitting reply!
IP is fuel. 🚀
Erin