A characteristic of both online stores and development technology companies, is their global commercial dimension.
Businesses agreements and ideas are exchanged beyond physical border. This entails, among other things, a challenge from the legal point of view. The assistance of a business lawyer will be expanded if he has international expertise.
Just as intellectual property rights represent an effective legal framework to protect both companies and individual entrepreneurs, there are ideas or projects that are not achieved by intellectual property rights or patents.
Intellectual property and beyond
Intellectual property (IP) refers to a set of legal rights that protect creations of the mind, such as inventions, literary and artistic works, and symbols, names, and images used in commerce. Its purpose is to provide creators with a legal framework to protect and exploit their innovations and original ideas. There are several types of protection under intellectual property:
- Patents: Protect new and useful inventions and technical processes. A patent grants the holder the exclusive right to make, use, or sell the invention for a specified period.
- Copyright: Protects literary, artistic, and musical works. Copyright gives the creator exclusive control over the reproduction, distribution, and display of their work.
- Trademarks: Protect distinctive signs that identify and distinguish a company’s products or services. Trademarks can include names, logos, and slogans.
- Industrial Designs: Protect the aesthetic appearance of a product, such as its shape, pattern, or color.
Limitations of intellectual property
Despite the protection they offer, intellectual property rights have limitations and do not always cover all the forms of protection necessary for businesses, especially in the technology sector. Here are some situations where IP might be insufficient:
- Non-patentable information: Some ideas or innovations, such as business methods or internal strategies, cannot be patented. Although they may be crucial to a company’s success, they lack protection under patents.
- Developing technologies: Emerging technologies can evolve rapidly, and IP rights might not keep pace with these changes in the short term. What is innovative today could become obsolete before adequate protection is obtained.
- Uncovered confidentiality: IP protects ideas that are registered and documented but does not protect information that has not been formally disclosed, such as trade secrets or internal processes.
- International challenges: Intellectual property laws vary significantly between countries. Protection granted in one country may not be valid in another, which can limit a company’s ability to defend its rights globally.
The importance of additional measures
Since intellectual property alone does not cover all protection needs, companies should consider additional measures to safeguard their intangible assets. These measures may include:
- Non-disclosure agreements: To protect information not covered by IP rights, such as trade secrets and business strategies. These agreements ensure that employees, partners, and third parties maintain the confidentiality of sensitive information.
- Non-compete agreements: These agreements prevent employees and partners from engaging in business activities that directly compete with the company during and after their relationship with it.
- Data protection: In a global environment, protecting personal and commercial data is crucial. Companies must comply with privacy and data protection laws in all the markets where they operate.
Sign a non-disclosure agreement
For this reason, many companies, particularly those related to the field of technology, ask their employees and potential partners or investors to sign a non-disclosure agreement. Under this agreement, people agree not to share outside the workplace or business, trade secrets or any other confidential information.
In the last decade, technology has evolved at a dizzying pace. If we consider that only fifteen years ago, companies still communicated via Telex, and that video communication via telephones was only an idea in a futuristic television show, we will notice that any idea or comment can be the seed of a future short-term development.
So, the key to the development of any type of technology is the ability of a company to keep their trade secrets very well kept.
Clarity with non-disclosure agreements
It is easy for a company to request an employee, partner or investor to sign a non-disclosure agreement where the latter agrees not to reveal secrets. An agreement with such a broad definition only exposes the company to possible confusion about what is and what is not secret, allowing business ideas to filter into the competition without us being able to do much to prevent it. As such, for a non-disclosure agreement to be comprehensive, it is necessary to have the following elements:
It must clearly identify everything that is considered confidential. A company cannot claim that all shared information is confidential and thereby cover a leak. An agreement of this type should detail the confidential information in some degree of detail. This includes both products and ideas that have not yet been patented, as well as information on the progress of a particular business.
Clearly detail what can and cannot be done with this information. When an employee, partner or investor takes knowledge of confidential information, sometimes they are allowed to do certain things with it. This must be made clear.
Importantly, these types of agreements must be in line with the policies and practices of the company itself. It is otherwise difficult to keep the secrets of a company when the agreement isn’t in line with the goals of the company itself.
International Lawyer in Miami
Miami, known for its international business environment and multicultural population, is a key hub for global commerce. This makes it an ideal location for international lawyers who specialize in navigating complex legal issues that cross national borders. Whether you’re a business looking to expand internationally or an individual dealing with international legal matters, having a skilled international lawyer in Miami can be invaluable.
Every technology company that carries its business beyond the limits of its country will require an international business lawyer to assist in the signing of a sufficiently comprehensive non-disclosure agreement, which takes into account not only the local laws but also the particulars of each market or country involved in the agreement.
Our international law firm can assist you at any time with any agreement or business you need.