Businesses and organizations/products should always be treated like a growing child who is always learning and happily “borrowing” money from mom and dad. Good parents typically do everything they can to encourage and protect their ever-growing child. From a business owner’s perspective, raising a child is no different than from establishing a venture. Just like a child the business will need its safety and care covered. Businesses must protect their products with patents and the organizations structure with insurance.
Patents cover products, ideas, websites, brand labels, and more importantly a company’s ability to sue. Society had evolved into a constant battle between companies to protect their organization. In these legal battles the only way to win is to prove who filed a patent first. It will not matter who has the original blueprints about idea origins; whoever filed a patent with a government entity in their country first, wins. For example, many people are aware of the patent frenzy between Nike and Adidas. There are several cases between the two and other competitors that Nike has thrown patents lawsuits at. Essentially individuals who sign on with Nike have contractual agreements they must abide with until a year after leaving the company. This is to protect Nike from their product lines from being copied and stolen by their competitors. Unfortunately, this did not prevent Adidas from assuring a few past Nike employees they would cover their legal expenses if they breach contract. Nike filled against these employees and Adidas. It was ruled that the patent didn’t meet certain element requirements, meaning the copied shoe was not an exact replica of Nike’s shoe. Even despite Nikes best efforts there is still the uncertainty of trusting employees to not disgrace the company.
In regard to insurance on inventory, many business owners dread the thought of having it; they simply don’t feel the need or the threat to force their hand. While other owners/operators are proactive by understanding the possibilities of theft, fire, or the unknown. Insurance can be too costly for some businesses and this is where things get tough for most decision makers in the business. Is it worth the insurance to know the company won’t be at a loss if the unimaginable were to happen? Stephenville is nowhere near the coast line where hundreds of businesses were affected by the hurricane and raiders, but we are still in the tornado pathway as some of us remember not too long ago. Insurance on inventory and the business itself will reap its rewards on that one rainy day (no pun intended).
Flight Reach Productions wants the business owners/operators of all surrounding counties to protect their “children.” Whether it may be against other organizations or the unknown of nature. The success of a business represents how well it was raised, sometimes this means protecting it against unpredictable factors. At Flight Reach Productions we will refer you to someone familiar in patent law.