The more the corona virus spreads across borders, the more businesses are being urged to take control through innovating, protecting and securing their Intellectual Property rights(IP). Several IP rights such as Trademarks, Patents, Copyright and Trade secrets are some of the IP rights that have been more prominent during this pandemic. Going forward businesses, start-ups and research institutions have to revisit their IP strategies and align their operations with the ever-growing knowledge economy.


THE VALUE OF TRADEMARKS IN SMALL TO MEDIUM ENTERPRISES (SME’s)
The registration of Trademarks is essential in any start-up, existing and growing business, especially in SME’s. Trademarks are tools for development of brands and this applies to several stakeholders including the business owners and consumers.  A trademark distinguishes one’s enterprise from other competing enterprises be it services or goods. Trademarks must be registered in terms of the laws of each country and usually the application procedure and enforcement must be undertaken in terms of the laws of each country. The key factors in the mind of the consumer are “does the consumer identify the product?, is the sign recognised by the consumer to whom it is addressed as identifying the goods from a particular trade source, or is capable of being so recognised”.


Due to the Covid-19  pandemic, a heavy influx of start-ups have emerged meaning competition is high and brand visibility becomes crucial. The value of IP is often not adequately appreciated and its potential for providing opportunities for future profit is widely underestimated by SME’s. However, when IP is legally protected and there is demand for the IP protected products and or services in the marketplace, IP can become a valuable business asset.

DIGITAL PERFORMANCES AND COPYRIGHT PROTECTION
Many if not all artists/performers have moved to the digital platforms as a means of earning  a living whilst entertaining their audience at the same time. Covid 19 has led to the cancellation of all concerts and live performances and this has resulted in most artists suffering especially in struggling economies where music and art is not fully appreciated . The migration to the internet raises many copyright concerns which should be adhered to and safeguarded from infringement. Copyright infringement will result once an individual uses or exploits the copyright of another without their authority, be it in song, video or lyric format.


A crucial point to note in most jurisdictions is that copyright does not necessarily require registration as it lies automatically with copyright owner upon expression of the works in material forms and because the internet is borderless in nature, most copyright violations are ongoing on the internet because of the failure of online enforcement by most platforms. It is therefore essential for all artists to look at the fine print of all the platforms such as YouTube and Facebook  and check if they do not relinquish their rights to these platforms and how the platform can end up using their content without your permission.


INNOVATION LEADING TO PATENTABILITY
There is no better time than this for innovators/disruptors to research and develop solutions to current Covid-19 and post Covid-19 problems. Innovation leading to the development of novel technologies or discoveries can result in Patent protection . Patents not only give exclusive ownership to the inventor but they do so for 20 years which means the inventor has the exclusive right to license his or her innovation for the benefit of mass production upon commercialisation. One of the objectives of the patent system is to promote wealth creation through economic value as long as the patentability requirements are met which are novelty, inventive step and industrial applicability.


WORKING FROM HOME: A RISK FOR TRADE SECRETS
For an existing or new business to survive, grow and thrive in this environment, it must be able to create itself or get the needed useful information to create and provide the new or improved goods or services in the marketplace. Such useful information is a “trade secret.” Often, competitors get access to such information rather easily, for example, by winning over or merely hiring away your key employees who created or have access to such useful, confidential information that gives your business a competitive edge. To prevent the erosion or loss of its competitive edge provided by such information, a successful company has to safeguard its proprietary or confidential information.


It is imperative that we note that during these unprecedented times innovative ideas be treated as a secret if an enterprise wishes to appropriate potential commercial benefits from the innovation that is. The majority of companies are operating online which leads to various information being passed around. A trade secret can only be protected if it is not in the public domain, once it is out to the public, protection lapses and no longer enforceable.


IP MANAGEMENT: REVIEW OF IP POLICIES AND STRATEGIES
In order for an entity/organisation/institution to manage their IPR they require an IP Policy. The purpose of an IP policy is to set out your organisation’s IP management principles which must outline the strategy. An IP strategy outlines a set of policy measures formulated to promote and facilitate the effective creation, protection, management and use of IP as a strategic tool for the institution. IP Policies and strategies are living documents and living in COVID 19 times is unprecedented and requires urgent review, those that don’t have should establish policies and those that have should review to remain relevant.


An IP strategy will encompass an evaluation of your IP assets which means, existing or potential assets. SMEs in particular often lack information about the returns on investment in intangible assets. In particular, it is essential to know which is the valuable IP and which needs to be protected fully and which of the IP is of no significant value which might be sold or abandoned. In light of the recourses and market opportunities and safeguard your brand, developing an IP strategy results in the organisation maximising on its assets full potential. Even if you cannot or do not want to use the IP rights yourself, bear in mind that third parties may want to use them.