Team photo
Centuria Financial Group

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David P. McCabe,

WMCP®, ChFC®, CLU®

Financial Planner, Prudential Advisors

david.mccabe@prudential.com

 

Jason M. Bowers,

RICP®, CDFA®

Financial Planner, Prudential Advisors

jason.bowers@prudential.com

 

Nathaniel D. High, RICP®

Financial Planner, Prudential Advisors

nathaniel.high@prudential.com

 

Nicholas Over

Financial Planner, Prudential Advisors

nicholas.over@prudential.com

 

Melissa L. Lang

Client Relations Manager, Prudential Advisors

melissa.lang@prudential.com

 

Centuria Financial Group

2333 Baltimore Blvd Suite B

Finksburg, MD 21048

 

Phone:  443-952-7232

November/December 2022

Protecting Intellectual Property

Protecting Intellectual Property

Intellectual property (IP) can be a significant asset that increases your business's value. Failing to protect IP can leave you with no recourse if a competitor or former key employee appropriates methods or processess you've developed.


What is Intellectual Property?
In general terms, intellectual property is any product or service you’ve created that the law protects from unauthorized use by others. Businesses can own these intangible assets in the form of patents, trademarks, copyrights, and trade secrets, and they can be bought and sold just like tangible assets.


Help with Safeguarding IP
Any information you don’t want others to know can be protected. An intellectual property attorney can advise you on the protections you may need to help prevent competitors from using your IP. These could include the following:


Copyrights protect software, graphics, video/sound recordings, databases, books, and blog articles.


Patents protect inventors by giving them the legal right to exclude others from making, using, or selling an invention for a limited period.


Trademarks protect things that identify your brand, including words, phrases, symbols, designs, or a combination. Logos, colors, names, taglines, and slogans all can be trademarked.


Trade Secrets include any confidential information that give a business a competitive advantage, such as distribution or sales methods, strategies, production processes, and even lists of vendors and clients.


Add IP to Your Business Plan
Protecting your business’s intellectual property should be an integral part of your business plan. Include money in your budget to pay for securing your IP rights. As part of your plan, ensure that key employees, contractors, and business partners are bound by non-disclosure agreements.


Insurance Protection
Your business’s general liability insurance coverage may offer limited protection in the event of litigation. However, you may want to purchase specialized intellectual property insurance that covers the legal cost of pursuing infringement or theft of IP.

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Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates. Centuria Financial Group is not affiliated with Prudential Financial. Centuria Financial Group sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Centuria Financial Group is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Centuria Financial Group and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries. Melissa L. Lang is employed by David McCabe and not The Prudential Insurance Company of America or its subsidiaries.
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