E-commerce is a tool without which modern-day business and industry could not survive. Almost every business today depends on e-commerce as part of its strategy. E-commerce has even had an impact on intellectual property (IP) rights, including some of its most fundamental elements and principles.
In the world of e-commerce, IP is an element often overlooked; however, it is perhaps the item imbued with the greatest inherent value. More than any other platform, e-commerce involves the purchase and sale of products based on IP and its licensing. Therefore, any savvy e-commerce entrepreneur should become familiar with IP rights that pertain to e-commerce.
IP Protection in E-Commerce
E-commerce business owners may make use of any of a variety of intellectual property rights to keep their products legally protected. For example, they may use patents or copyrights to protect software or HTML code found on websites. Technological components such as software, networks, designs, and routers are forms of IP which must be protected to ensure the proper function of e-commerce activity.
Most e-commerce business owners deem IP to be their most important corporate possession. As a result, they often register for and own many patents, copyrights, and trademarks. Trademark, patent, and copyright registrations not only guard their IP; they also increase the value of their businesses because they are valuable assets. This way, their business’s commercialization capabilities will reach new heights.
Methods of Countering IP Rights Infringements
E-commerce business owners may use any of several different methods to act against infringements of their IP rights. For example, they might choose to use algorithms and other forms of artificial intelligence to detect such violations. Many of the world’s leading e-commerce companies are currently doing so; when such infringements are detected, the offending products will be removed immediately and punitive action will be taken.
Some e-commerce entrepreneurs might also join a global network involving various IP rights holders. Such networks provide benefits such as improved IP enforcement services as well as protection from bad faith notifications and those linked to IP rights infringements. Knowledge of Malaysia’s intellectual property laws will help you know if your IP rights have been violated.
One important IP-related task which e-commerce business owners should complete is an IP audit. This audit will create a list of every form of IP which the business owner holds. It includes anything ranging from trademarks to copyrights to designs and any other type of intangible asset owned.
An IP audit begins by listing every name, symbol, slogan, design, or any other identifier for the business. Trade secrets including strategies, customer lists, and plans for development or technical improvement must also be included because they have commercial value. All contracts which may influence any existing IP owned ought to be documented. Such contracts include agreements with employees, contracts with design companies, and non-disclosure agreements.
Conducting an IP audit will ensure that all of a business’s IP and related rights are protected and accounted for. For further information, one can always consult EXY Intellectual Property for more information.
IP Rights and E-Commerce Business Sale/Investment
Anyone who plans to sell their e-commerce business must ensure that IP rights are fully protected. Since IP rights in the e-commerce sphere are extremely important, an e-commerce business with all its rights in order will attract more potential buyers.
Similarly, those who seek investors for their e-commerce business will benefit from having their IP rights protected. If a business’s IP rights are not secure enough, investors will be somewhat put off. However, a business with protected IP rights will command attention from investors who will infuse it with a fresh flow of revenue.
Please contact us for more information about how to patent a product in Malaysia. We will be glad to serve your needs.
This article is brought to you by Exy Intellectual Property (Malaysia)