By Ammara Farooq Malik, Partner AFMalik Law. Though a one size fit for all is not possible, however a general guideline can be provided on when and where the intellectual property must be registered in the process of business formation. Business process and IP in each step: Step 1: Inception of idea for business Action Item: Read up on IRR or engage an IP lawyer/ expert. Many business owners feel that because they have come up with an exceptional idea, it belongs to them. It ‘could’ belong to them and that is where engaging an expert comes into play. Reading up on what IP means is a useful first step to understand your rights. However engaging an expert goes a long way in ensuring that any important aspect of your intellectual property has not been overlooked which can cause you massive losses in business, down the line, if left unchecked. Step 2: Creation of formula for product and/or production process (if applicable). Action Item: Apply for Patent Registration Now that you have your idea, the second step will be to create your secret formula for your product. This could be a unique manufacturing or production process, a unique recipe or formula for a medicine. In this case you should seek advice on how to register your patent. If your business does not have a unique formula or manufacturing process, then this step will be skipped. Step 3: Creation of trademark for business/ brand Action Item: Apply for Trademark registration Each business must have a brand name under which it will be selling its… Read More »Business Process & IP
While advising businesses expanding in Pakistan or Pakistani businesses planning to export their goods or services beyond Pakistan, it is essential to focus on one of the basic areas of business law that protect your business’ identity, integrity and ensures a uniform standard to your customers and clients: Intellectual Property Laws.