Last Updated on Feb 28, 2020 by James W
You’ve worked hard to build your business. All of those sleepless nights. All of those times you skipped fun things to run your business. You need to protect the things you worked so hard to build up. Your business could be gone in an instant. All it would take is one lawsuit or one person to steal your slogan. Read the rest of this article to learn ways to secure your business.
Make Sure To Get The Copyright To Necessary Items
Did you write a book? Are you a musician? Make sure to get your work copyrighted. You can not get a copyright for an idea so be careful about who you share your ideas with. Speak with an attorney well versed in copyright law before you attempt to secure a copyright. Everything can’t be copyrighted. An attorney will be able to guide you through this process.
Secure the proper trademarks
If you have slogans and catch phrases that you use in your business, be sure you register the trademark with the trademark office. Your brand is your bread and butter. Your brand is what makes your business different from other businesses. If you don’t register your trademark, someone can steal your business and you won’t have much recourse because it wasn’t clearly established that you owned those slogans and phrases.
Patent your unique inventions.
If you’re an inventor, be sure to patent your inventions. You don’t want to lose out on money from your invention if someone else creates something similar and registers it first. Alexander Graham Bell gets the credit for inventing the telephone because he got his patent in first. Don’t be like Elisha Gray who didn’t get the credit even though he invented the telephone before Alexander Graham Bell did. Make sure you fill out the proper paperwork.
Get the proper insurance
We live in a fairly litigious society these days. Giant corporations have had to pay huge settlements to individuals for hings such as someone spilling hot coffee on their lap. Your small business can’t handle such settlements. Make sure you get insurance to protect your business. Any minor calamity could cause financial destruction and be sure you get life insurance. Since you are a business owner, you should look for key man insurance. Basically that type of insurance compensates your business for financial losses that could occur if you die.
Make sure you use strong passwords
We store lots of important business information online. Tragic results could happen if your passwords get into the hands of the wrong person. The best way to combat this is to create passwords that are so strong, a cyber criminal would have a tough time hacking into your online accounts.
As a business owner, you have to be protective of your business. Protect your business from harm like you would protect one of your children. Your business is your livelihood. If you take good care of it, it will take care of you for a long time to come.