An intellectual property ‘starter kit’ for start-ups

INTELLECTUAL capital, intellectual property, trademarks, company names, domain names, clearance searches, licensing, patents, designs, trade secrets, copyright ...

- Samons is an associate, Trademarks, Adams & Adams; and Van Der Walt is a partner, Trademarks, Adams & Adams.

These words or phrases may sound like buzzwords to entrepreneurs, but these words and phrases are keywords for the long-term success of any enterprise.Intellectual property comprises intangible assets which should be protected and leveraged to contribute to the strength and growth of any emerging enterprise.

Intellectual property includes, among other things, intellectual creations, inventions, designs and brands. It is often creations of the mind or inventions that drive entrepreneurship, and startups' intellectual property may be the very reason for its coming into existence.

Before commencing with marketing or trading activities, startups should be proactive and decide on a strategy for the use and protection of their intellectual property.

With this in mind, what should a startup consider to build a strong intellectual property portfolio, capable of being monetised?

Trademarks, company names, domain names and licensing

Of course, any enterprise requires a name, before it can commence with trading activities.

Choosing a name for a new enterprise may prove to be an intimidating task, as entrepreneurs typically feel pressure to choose a name that will resonate with the relevant target market.

A creative or unique name generally affords a new enterprise with a competitive advantage, as it draws attention to, and enables consumers to recognise, the enterprise's, goods or services.

As soon as an enterprise name has been elected, entrepreneurs often believe that the next step is simply to register an entity with the chosen enterprise name at the Companies and Intellectual Property Commission (CIPC).