Understanding The Crucial Role Of Intellectual Property In E-Commerce

1. Understanding the Crucial Role of Intellectual Property in E-Commerce In E-Commerce, Intellectual Property (IP), is indeed the most neglected yet the highest value bearing component. The real reason behind the same lies in the fact that the crucial role of IP in E-Commerce is either less understood or not apparent. The Intellectual Property Laws and practices protect the unique works and creations of the owners from unauthorized use and unfair competition. Therefore, it would be wise enough to admit the fact that IP is an asset with worth way more than the tangible assets. Without adequate IP laws and practices, hard work can easily be stolen and spread around the world, that too, without paying the creator for his or her effort and labor. When it comes to E- Commerce, technical security measures are necessary to deter the less proficient thieves, and strict IP laws are necessary to handle the crimes, which may include cases of Intellectual Property Infringement. The two primary concerns that should be there in your mind if your business operates in the E-Commerce industry are as follows: 1. Protecting your IP Assets

2. A pretty common mistake is disclosing your unique creations and innovations before completing the entire registration process (be it Trademark Registration, Patent Registration, and so on) to obtain protection for them. Hence, it is always highly advisable to consult a legal advisor or get in touch with an Intellectual Property Law Firm before disclosing anything corresponding to your unique assets. 2. Not Infringing Upon Someone Else’s IP Assets Your E-Commerce platform must be having a lot of product images and descriptions. In this scenario, you must own all the legal rights corresponding to publishing those images and descriptions. The videos, logos, icons, sound effects, clip art, and background music undoubtedly make your E-Commerce platform way more engaging and visually attractive; however, once again, you must have all the concerned legal rights for using them well in place. Many people across the globe believe that every single thing available on the internet is free for use. Most of them usually get away with such IP violations as well, which, in turn, makes us believe that we can do the same too. The truth of the situation is that when you run a small business, you might be able to fly under the radar; however, as and when your business grows, your IP violations shall become more visible. Therefore, every individual must take all the IP related issues seriously. All the E-Commerce platform owners must ensure that the content present on their website is in the public domain and covered under fair use. The owners must also have all the required permissions with them. IP isn’t Limited to the Content Available on the E-Commerce Platform There may be a few cases where you might think that the fake products on your platform are the headache of the supplier. However, as a retailer, even you can fall into trouble if you fail to take all the adequate measures. You must ensure that the supplier is authorized to supply in the first place, and your platform sells branded and authentic products at all times. Performing IP Audits and Documenting Legal Agreements

3. E-commerce platform owners and managers must perform regular audits of all their IP assets and maintain an intellectual property portfolio consisting of website designs, descriptions of unique products, images, videos, artwork, and new processes developed for all the services, to name a few. They should also document all the non-disclosure agreements and other contracts to ensure the utmost protection of their unique works and creations. For view source: Don’t forget to follow us on social media: Facebook – https://www.facebook.com/trademarkmaldives/ Twitter – https://twitter.com/trademarkmaldiv Linkedin – https://www.linkedin.com/company/trademarkmaldives/ Pinterest – https://in.pinterest.com/trademarkmaldives/ Tumblr – https://trademarkmaldives.tumblr.com/ Contact - US Email Id: info@trademarkmaldives.com Website: www.trademarkmaldives.com