Step 1: Keep your idea a secret!
If you have a good idea that could be protected by industrial property rights, keep it a secret until it is actually protected; otherwise, if you disclose your idea to others your legal rights to protect your invention might be at risk.
Step 2: Understand the different rights applicable to industrial property and their benefits.
Patents are intended to protect inventions, while by registering an industrial design you protect its appearance; also, when you register a trademark you protect names, logos, and distinctive features of its packaging. For more information about how to protect your industrial property rights, visit the IMPI site at www.impi.gob.mx.
Step 3: Verify whether there is a market for your product – do some market research.
Every business needs to conduct market research to identify possible licensees, users, buyers, investors, manufacturers, and distributors. This will help you define product costs and will allow you to verify whether your product is competitive.
Step 4: Use the industrial property system to protect your industrial property rights.
Protect your invention, industrial design, or trademark by exercising your industrial property rights. For more information and to request specialized advise, visit the IMPI site at www.impi.gob.mx.
Step 5: Build a prototype for your invention.
If you deem it necessary and convenient, build a model of your invention to let your potential investors visualize your idea and its market potential. Remember that you should keep it for your eyes only and if possible do not market it before filing a patent application. Think that if you commercialize it before you could void the application.
Step 6: Think about all costs related to your invention.
It is important to consider development and protection costs for your invention to provide it with commercial value. This will give you an idea about the required income the product will have to generate to recover your costs.
Step 7: Get the most out of your industrial property rights – sell them, license them, or manufacture your product.
There are many way to benefit from your industrial property rights. You can license, sell, or manufacture your product on your own. Sometimes it might be more profitable to have tirad parties manufacture the product. If you decide to let the experts manufacture your product, seek legal advise to have them sign all the necessary agreements to protect and safeguard your industrial property rights.
Step 8: Make certain to include your industrial property rights in your business plan.
It is likely that your business will depend on your industrial property rights and consequently it is important to incorporate it into your business plan. By doing this you will make your business plan more attractive for potential investors.
Step 9: Value your industrial property rights.
Treat your industrial property rights as a business asset with an actual cash value just as you would do with other business assets. We suggest to seek the advise from an accountant.
Step 10: Beware of infringements.
Watch out for infringements as they can crush your efforts to start your business and remain in the market. Bad quality imitations can also ruin your brand’s reputation. If you think that your products are being infringed, we suggest to seek the professional advise from an attorney.
Where to get help.
The IMPI cannot offer you advise about how to develop your business, but we can help you to file the necessary paper work to protect your industrial property rights. Call us at 5334-0700, visit one of our offices or visit our Web page at www.impi.gob.mx.
We suggest that you contact a qualified patent and trademark consultant to provide you professional advise and help you to create a protection plan based on your business specific needs.
The purpose of this information is to provide interested parties a general understanding about industrial property rights protection in Mexico. This information does not replace the legal advise from a lawyer.