Most Common and Important Assets That a Business Should Have
What makes a company? It is the management, the structure and the assets. Assets are considered the weapons and arsenals of the company in the big game called the market. If you are seriously considering a business, it is best to get a list of assets ready and secure them to ensure smooth operation and avoid possible problems.
No business is complete without assets. Assets provide the business with value as well as the firepower it needs to operate successfully in the market.
These assets cover several key features of your company, and you should be able to acquire some sort of protection for them.
Like all business, it is best to plan and secure your assets early on, right at the start of conceptualizing your business. After deciding on an idea, start to come up with a list of assets that you need and start taking the steps to acquire and get the law to protect them. For starters, here are some of the most common and important assets that a business should have:
- A domain name
Since its introduction, the Internet has proven to be the great equalizer. The web has virtually eliminated the difference between a small business and large enterprise. As long as you have the website and other online assets in your arsenal, you have a chance of succeeding in the market and even growing to match the larger competition.
If you are in the business of manufacturing, then this is a very important asset to secure and acquire protection from the law. The trademark secures your claim to the product, and protects you from any gross misconduct that might otherwise arise if your product name and reputation is free for all to access. It is also helps you to get after anyone who is trying to tarnish your company’s reputation using your intellectual property.
Protect your published materials by securing a copyright from the law. The copyright protects your publications from being illegally copied and resold by outside parties. Once your publication is copyrighted, third parties would have to secure a license or permission from you to use them. A lot of publishing companies and writers have derived a significant portion of their earnings from licensing in addition to sales of their published materials.
Patents are important for preventing others from copying your inventions without your expressed approval. Just like a copyright, third parties would have to pay a specific amount in order to receive the permission to use your technology in their business. If your business relies heavily on technology, any innovation on your part must be protected right away.
Patents, trademarks and copyrights can be secured and applied for in the U.S. Patent and Trademark Office in the United States, and in appropriate agencies throughout the world. Domain names, on the other hand, can be secured through purchasing domain space from reputable web site registering/hosting companies.
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