Create Key Business Assets



Your company assets are only as good as your ability to keep and protect them (especially in cases of intellectual properties), be it your company name, logo, inventions or best selling product - take steps to protect your ownership rights. We will discuss and explore six (6) key business assets in this step.

  1. Website Address
  2. Trademarks
  3. Copyrights
  4. Patents
  5. Provisional Applications for Patents
  6. Confidentiality Agreements

Website Address / Domain name

As more customers go digital, more businesses are also going to the internet for retail and internet marketing. One of the keys to establish a web presence is to secure a domain name for your business (an example of a domain name is nigelchua.com).

There are a number of low-cost web services that will help you register a domain name for you, as well as provide email and website templates as well.

If you have a unique name for your business and/or products/services, register it as soon as you can. Sometimes, you'd find that someone has beat you to it, but don't be discouraged - you can choose to wait for their registration to expire and then buy (assuming they don't renew) or you can go to them directly and purchase from them.

Get your own domain here or with Solo Build It.

Trademarks

A trademark will be one of the most important business assets you'll ever own. It's your own brand name, logo or symbol that distinguishes your company and your products/services from another.

When you register your trademark you go on official record as the official owner of the mark - this gives you a significant favor should there be a dispute over your rights to use the mark.

This is especially useful if you find that another company or person is hurting your business reputation or causing confusion by using your trademark to sell similar or lower-quality-and-cheaper goods.

You can indicate ownership of a mark with a symbol of "TM" for your business, or "SM" for a service mark...but there is no protection to them - only registered marks are allowed to use the registered mark symbol "®".

Copyrights

Trademarks are for intellectual property protection, but copyrights grants you exclusive legal rights to your creative work, which can include any content, creative or not, such as website content, literature produced, music etc.

To receive a copyright protection for your work, your creation MUST be expressed in tangible, physical or digital form such as a piece of writing in print or in internet publishing (such as this post).

Once you get the protection, copyright protection prohibits others from taking or copying or reproducing your work without your go-ahead.

Patents

If you have good ideas that are workable, don't wait for someone else to "discover" it and take it into a success. Quickly protect your idea/invention so that you can protect it and leverage for it to be a cash machine for you.

You do this by patenting it, excluding other people from using, making, offering for sale or to sell the invention for a limited amount of time in exchange of public disclosure whenever a patent is granted.

There are three kinds of patents: (1) utility patents for processes, machines, manufacturing article or a composition matter; (2) design patents for new, original and ornamental designs; and (3) plant patents for inventions or discoveries of plants that are distinct and new.

If you're going in this direction, I'd recommend you speak to a attorney specializing in patent and intellectual property.

Provisional Applications for Patents

This is to buy time for you to protect your invention(s) until you're ready to build the patent and submit the full patent application. It's a little like down-payment to secure your patent rights.

It expires after one year, so plan and prepare for it. This is to prevent others from claiming your invention, but check with your patent attorney.

Confidentiality Agreements

If at anytime you're thinking about exposing your company's secrets, regardless whether it's a customer list, a specific business or manufacturing process or financial information that you should keep away from your competition - protect this information.

With a Non-Disclosure Agreement (NDA), you can do this. It can be a "One-Way" NDA or "Mutual" NDA to protect information.



join the passive income family

Don't drown in the details - get the free fundamentals of passive income and early retirement and make your first $100 online.

Join the passive income family & newsletter below and get a bonus "Boring Blueprint To Passive Income & Early Retirement"

  • Learn how I started with less than $100 in my bank account from 2005-2008
  • ...turned my life and money around and by 2014
  • ...paid up my $390,000 flat in full in less than 5 years
  • ...starting making USD 40+ online per month
  • ...invested in dividend stocks for passive dividend income for recurring cashflow...for life!

You will also get subscriber-only Passive Income Tips, Starting & Growing Online Businesses Updates, Special Offers/Discounts and More - see you on the inside!

Talk soon!


Nigel

Please note that all fields followed by an asterisk must be filled in.

No spam ever - your email is never shared and you can unsubscribe anytime with one click.

Enjoyed this article? Share it with your friends by clicking one of the buttons:

Even better - share your thoughts and comments below:


Back To Top

Search In NigelChua

Current Projects

Nigel Chua

Nalco Group

Therapy Entrepreneurs

Xtend Health Asia

Wisdom Of Seneca

Bee Pollen For Health

#1 Recommended Online Business University And Platform

Solo Build It!

More than 95% of my online businesses and publishing works use the Solo Build It platform, for good reason. Find out here.



GetResponse Email Marketing

Building a relationship with your audience, customers and readers are highly important for any offline and online business, and I recommend GetResponse for their services, great price, ease-of-use.

Try GetResponse today (1st month free)

Bonus: learn how to use an email autoresponder



The Hoth

TheHoth can help to outsource your guest posting, article writing and backlinking marketing activities. Visit them here.



Google Suite

Google Suite (GSuite) is THE recommended Google tools for email, calendar, documents, sheets - for productivity  and communication.

GSuite/GMail one month free trial available here.



Shopify

Shopify has made it very easy to start an ecommerce business, solving most of the tech and logistical barriers and even has product suppliers with Oberlo!

Try Shopify today

Books I'm Reading

Holy Bible

Tribe Of Mentors

Seneca Letters From A Stoic

Seneca On The Shortness Of Life

See my full book/read list here.

Blogs I'm Following

Tim Ferriss

Pat Flynn

Tony Robbins

Ramit Sethi

Personal Goals

SGD 2,000,000 invested in dividend stocks with average 5% returns per annum by 45

SGD 2,000,000 in cryptocurrency

Owning, affording and living in a landed property in Singapore (or relocated to another country without worry of money) by 40

Publish at least one book by 40 years old

Online businesses serve readers and clients well (ie readers make more money, have happier/freer life etc), and website makes SGD 10,000 per month

Ongoing: spend more quality time with children, wife, family, bible, God.