Many entrepreneurs focus on building their products and growing their customer base but overlook one critical area: intellectual property protection.
Unfortunately, small mistakes can leave your brand vulnerable to copycats, lost revenue, and costly legal battles. By being aware of these pitfalls, you can safeguard your business from avoidable risks.
| Mistake | Why is it risky? | Better Approach |
| Not registering IP early | Delays allow competitors to register similar marks or exploit your creations. | Register trademarks and copyrights as soon as possible, ideally before launch. Follow our guide on How to Register a Company Trademark. |
| Assuming social media handles or domains equal protection | Owning a domain or Instagram handle does not grant legal ownership rights. | Secure formal registration with the relevant IP authority. |
| Failing to renew registrations | Lapsed trademarks can be claimed by others, weakening your legal rights. | Set reminders and track renewal dates to keep protection active. This is similar to the diligence required for CAC Annual Returns Filing. |
| Ignoring international protection | Exposure to infringement when expanding abroad without IP coverage. | Use systems like the Madrid Protocol (trademarks) or Berne Convention (copyrights). |
| Relying on informal agreements | Handshakes or verbal deals lead to disputes over ownership and usage rights. | Always use written contracts and assign IP rights clearly. |
| Underestimating monitoring needs | Infringement often goes unnoticed until it causes significant damage. | Set up monitoring tools and regularly audit for unauthorized use of your IP. |
Conclusion
Protecting your intellectual property is more than a legal formality but a business strategy that safeguards your brand, creations, and revenue, much like maintaining annual returns compliance protects your legal entity.
Whether through trademarks or copyrights, taking proactive steps today ensures your ideas remain yours tomorrow. Do not wait for infringement to happen; secure your rights, strengthen your business, and build a legacy that lasts.
We want to see you succeed, and that’s why we provide valuable business resources to help you every step of the way.
Frequently Asked Questions (FAQs)
What is the difference between trademark and copyright for businesses?
A trademark protects brand identifiers such as names, logos, and slogans, while copyright protects creative works like books, music, art, and software. Both serve different but complementary purposes in safeguarding your business assets.
Do I need a trademark or copyright for my business?
It depends on what you want to protect. If you are building a brand identity, you need a trademark. If you are creating original content, you need a copyright. Many businesses need both. Learn more in our guide on How to Register a Copyright.
How do I register a trademark?
In most countries, including Nigeria, you register a trademark through the government’s trademark registry. The process involves a search to ensure uniqueness, application filing, and review before approval.
How do I register a copyright?
Copyright registration is usually done through the national copyright office. In Nigeria, this is the Nigerian Copyright Commission (NCC). Registration provides a certificate of ownership that makes enforcement easier.
Can I protect my intellectual property internationally?
Yes. Treaties like the Madrid Protocol (for trademarks) and the Berne Convention (for copyrights) extend protection to multiple countries, giving entrepreneurs global coverage.
What should I do if someone infringes on my IP?
Start by documenting the infringement and confirming your ownership rights. Then, consult a lawyer, send a cease-and-desist letter, and if necessary, escalate to court action or platform takedowns.
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