If you work with vendors and service providers, you need to protect your intellectual property (IP) rights and avoid infringing theirs. IP is any creation of the mind that has value, such as inventions, designs, logos, software, or content. IP can be protected by legal means, such as patents, trademarks, copyrights, or trade secrets. However, IP protection is not automatic and depends on the terms and conditions of your contracts. Here are some tips on how to manage IP in contracts with vendors and service providers.
Before you enter into any contract, you should identify what IP assets you own or use in your business. This includes any IP that you have created, licensed, or acquired from others. You should also document the origin, ownership, and status of your IP assets, such as whether they are registered, pending, or unregistered. This will help you determine what IP rights you have and what you need to protect or disclose in your contracts.
How can you manage IP in contracts with vendors and service providers?
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