Becoming entrepreneur is always considered brave and brilliant. This is derived from the fact that starting our own business and succeed it will be a lot of work not to mention legal issues entrepreneur will probably face. The legal issues commonly include:
#1. Intellectual Property
This issue include several aspects like invention and the patent, copyright on several elements, trademark on the branding, as well as the secret for trade. An entrepreneur can be accused of violation against someone else if they are not ready.
#2. Patent Right
Unless an entrepreneur register the invention and make the agreement with government about it formally and legally, he can be interpreted as violating someone else’s right. This can cause a lot of problem and damage.
#3. Utility Patent
An entrepreneur should also protect his utility patent that commonly includes matter composition, articles of manufacture, as well as the machines and processes. It is because other company may share similar things that can cause misunderstanding.
#4. Design Patents
Many companies need to be closed due to design duplication. An entrepreneur should protect the design and make sure no one is taking advantage from it. We need to have patent right and authorization on it.
#5. Trademark Violation
Being entrepreneur means we need to be creative. We cannot use any trademark other company use for their market. We need to invent one and protect it with legal authorization and keep being original to avoid sue from other company.
#6. Copyright Violation
Copyright is needed for several works like music, writings, art works, and other similar products. We cannot use other company products like music, writing, or artwork. In addition to it, we need to protect ours from violation using copyright.
#7. Trade Secret
KFC secret recipe and Coca-Cola formula are good examples for trade secret. We should not try to steal the secret and use it on our company. We need to invent one and keep it a secret when it successfully touches consumers.
#8. License Violation
Several companies allow other companies to use their product on business. However, these other companies will need legal license to do it. Unless we have the license, we cannot do anything with the goods or products.
Not every entrepreneur is well informed and not all of them have good manner in business. This is why those legal issues often happen on business. If we are going to be an entrepreneur, we must be aware on those issues and try our best to prevent it.