There are many reason that why is it important to protect one’s intellectual property. Some of the reason are Creator being accused as a theft, Loss of Reputation, Loss of income, Loss of Asset and Loss of Authority Rights.
Firstly, Creator being accused as a theft. For instance, Creator who had created its own product, design, logo, invention, name, literary, artistic works, symbols and image that used in commerce purpose. Their hard work may be taken by others if they did not protect their intellectual property well. Those who had taken this creation may have already promoting it into market and making it to be more famous by advertising and earning big money. If this creator want to sell this idea to others or use it to create its own business, People will be accusing him being a theft where he had stolen other person work. This may not only causing him to lose its hard work, he will also be blaming for stealing.
Secondly, Loss ...view middle of the document...
They may even give bad comments and reviews in the social media, and scold the company “A” and product disgracefully and led to huge loss of customer.
Thirdly, Loss of income. For instance, People who had created a unique product. If he did not protect his own intellectual property well, others may use and take the idea of his unique product. Especially big company will produce it in large amount and bring it into the big market. Big company will do advertisement in all area to allow the product become more famous and earn the most profit of it. The creator who create this unique product will not earn much and as he cannot produce in a large amount and if the big company take the rights of the product. The creator may be sue and lost its own creation.
Fourthly, Loss of Asset. One day, if a person create a unique product of his own and the product became very famous, the product or company will worth quite a lot. For instance, Apple Company is now worth 200Billion and if Apple Company did not protect his own intellectual property well. People may steal the brand “APPLE” and sold it to others. This may led to the owner of company to loss its asset even though that the product was created by him and company was founded by him.
Lastly, Loss of Authority Rights. If One’s intellectual property did not been protected. Others may have the Authority Rights to use the brand, logo, name, design or even invention. This may then cause its owners to loss the rights to own its property as he may not be the only rightful person to own all this content. Others may use this content to earn money too.
Hence protecting one’s own intellectual property is very important. It can protect a business reputation and its own Authority Rights. It is also an important feature and has important bearing in businesses marketing efforts. If one’s Own intellectual property is not protected. Others may steal the Creator creation and hence their effort may be gone or if one company reputation is pull down by other’s company who use the same name. The main company will be affected and the effort of building up the company will go down the drain. By protecting the intellectual property, it will help others to avoid any scams and fake product too.