How do I protect intellectual property for my software?

How do I protect intellectual property for my software?

To protect yourself you can apply for a software patent, but it’s an expensive, time-consuming process with no guarantee. The alternative is to find a work around, you could consider the following steps:

Protect Intellectual Properties Rights in Vietnam

1. Keep It Close

Be very careful about any outsourcing partner you work with, either domestically or overseas. Make sure they have adequate security in place to protect your IP when they work on it. As well, be careful how your IP is accessed by remote teams.

2. Cover Your Legal Bases And Encrypt Your IP

When you work with a developer (local or overseas) you should make sure you have strong legal agreements in place that are enforceable in the developer’s local court system as well. You should also employ strong encryption internally for sensitive IP, and make sure y okour partners employ the proper levels of encryption. It seems like a lot of overhead, but it is far cheaper than dealing with a breach of trust later.

3. Document Everything

Beside as patent, keeping a running log or journal of what has been done and when can help you defend your property if it is stolen. This journal should start with the inception of the idea, include every meeting you have, who was invited, and who attended. Using a product with a reliable date and time stamp and having a paper copy of the important moments helps prove ownership of your idea.

4. Talk To An Expert

There are numerous ways to protect your IP, such as patents, trademarks, design rights and trade secrets. It’s about accepting that you need expert guidance early and preparation. What do you need to protect and how? Where, when and what is the timeline for applying in different regions? What do you need to budget for? Talk to the experts so you can understand, prepare and budget.

5. Idea Plus Execution Plus Cash Equals Success

Great ideas are a dime a dozen – at least 10 people are working on your great idea right now! The winner will execute well, getting the idea to market fast along with the operating model needed to provide great customer service. And if you’ve ever tried to start a business, you know your time frame to profit is 3x your original plan. Cash is your life blood extending your timeline to success.

6. Offer The Best Experience In Order To Protect And Profit From Your IP

Besides applying for a patent, I am not sure there is any other good option. Reverse engineering is becoming commonplace, trade secrets are becoming more difficult to protect, and patent trolls are appearing everywhere. I think offering the best experience to your user with your technology is — or should be — the only way to properly profit from it.

7. Move Fast

Depending on your idea, IP protection might be a necessary evil. Necessary because it can provide some protection from others attempting to copy you. At the same time, IP tends to be limited in its application (protects your idea but not variants) and can be expensive to defend. Instead, I always advise that IP is less important than speed to commercialization. Move faster than the competition.

8. Be Fast And Agile

Organize your technology department to be flexible and agile — staying fast and creative will keep you innovating ahead of larger, slower competitors.

9. Use Good Security Measures

At a minimum, all source code should be clearly labeled with a confidentiality notice, warning that unauthorized use or reproduction is prohibited and should be kept on secure systems within your facility. Only allow authorized personnel to access it. When software is deployed into the field, consider using third-party digital encryption solutions to wrap your software in a security envelope.

For further details, you should visit ANTLawyers – IP Services in Vietnam - Smart Platform for Legal, Accounting & Compliance services.