The most common question we receive is regarding the “protection of an idea in Cyprus”.
It is a fact that having an idea is the first and foremost step for a business. Since this initial step is a crucial one, it is prudent that the correct strategy is put into place and the correct measures are taken to safeguard your intellectual property rights and prohibit anyone from copying your ideas.
The principle rule of intellectual property law is the fact that “general notions such as ideas cannot enjoy protection”. What can be protected is the execution of certain ideas and the actual content of an idea.
Thus, the first consideration for anyone who wishes to protect his intellectual property is to understand what kind of intellectual property the creation covers: Is it a patent? An industrial design? A copyright? It is important to bear in mind that quite often a business idea covers more than one intellectual property right.
The second consideration is related to the jurisdiction which a person seeks protection in: Is it only for Cyprus? Should this work or discovery be protected in the EU or even internationally? This is a decision based on the business plan and the projects of the company.
A further very important consideration for the correct protection of an innovative idea, is related to any exposure and/or communication and/or cooperation and/or discussion the creator has with any third parties regarding his work, particularly before it is fully protected. A policy should be implemented whereby the correct agreements are entered into so that it is clear that the intellectual property of the creator cannot be threatened or questioned.
IP Cyprus can assist you with developing your intellectual property strategy and guarding your rights in order to achieve maximum protection in all jurisdictions of interest.
Our Team can also assist you to incorporate your company in Cyprus in order to be benefited by the very attractive corporate tax rate of 12,5%
In case you need to learn more, kindly send us an email to info@ipcyprus.com
