Intellectual property is a valuable asset for businesses. It refers to a process, invention, design, or any other creative idea that has commercial value. However, with this comes the risk of intellectual property theft. It is a widespread issue and can cause significant harm to businesses.
Identifying and proving theft of intellectual property can be challenging, but it is imperative to take swift legal action to protect your valuable property. Below, we will discuss common types of intellectual property, provide examples of theft of intellectual property, and identify the evidence to help you prove the theft.
If you suspect that you have become a victim of intellectual property theft, contact Slate Stern Law to get legal help. Our Santa Fe business litigation lawyer can help you gather all available types of evidence to prove the theft of intellectual property and sue for damages.
Types of Intellectual Property
Intellectual property includes trademarks, patents, copyrights, and trade secrets. Trademarks are symbols or words that distinguish a company’s products or services from its competitors. Patents give the holder exclusive rights over an invention for a certain period.
Copyrights involve exclusive rights over artistic works such as books, music, and computer software. Trade secrets refer to confidential information such as customer lists, formulas, or manufacturing algorithms that give a business a competitive advantage.
Examples of Theft of Intellectual Property
Intellectual property theft can happen in different forms. For instance, a company can steal confidential information, customer lists, or manufacturing procedures. Another example is the use of copyrighted material without permission. Also, counterfeiting of a company’s logo or products is widespread, and it is a form of intellectual property theft.
According to a report by the Commission on the Theft of American Intellectual Property, intellectual property theft caused the U.S. economy to suffer an estimated $1.2 trillion in economic damages in 2017.
Evidence to Help You Prove Theft of Intellectual Property
To prove theft of intellectual property, you need to gather evidence to present in court. Here are five pieces of evidence that can help you to prove intellectual property theft:
- Email correspondence regarding the theft
- Security camera footage
- A forensic examination of the offending party’s computers and devices.
- Statements by witnesses to the theft
- Bills, receipts, or other records associated with the stolen intellectual property
These and many other types of evidence can help you support your case for theft of intellectual property.
Do You Need a Lawyer to Help You Prove Theft of Intellectual Property?
If you have been a victim of intellectual property theft, it is essential to seek legal help to protect your rights. A lawyer will help you gather the necessary evidence to prove the theft in court and ensure that you get the compensation you deserve. They can also guide you on how to prevent future theft and how to take legal action if necessary.
Protect Your Intellectual Property Rights With Slate Stern Law
Intellectual property theft can cause significant financial losses to businesses. It is essential to identify and prove the theft to protect your valuable assets. Remember, seeking legal help is essential to take swift action and protect your rights. With the right approach, businesses can protect their intellectual property rights and prevent future theft.
Reach out to Slate Stern Law to protect your business’s intellectual property rights and ensure that anyone who infringes upon your IP rights is held accountable. Discuss your case during a case review. Call (505) 814-1517.