Safeguard Your Business: Key Insights on IP Protection from Attorney Nancy Molokwu

In a recent interview with Trademarkia, legal expert Nancy Molokwu shared her insights into the critical role of trademark protection for businesses in today's fast-paced world.

With years of experience working as an attorney, Nancy discussed the benefits of using legal services to protect your intellectual property (IP), the steps businesses should take when their IP is infringed upon, and the best practices for monitoring and enforcing IP rights.

Key benefits of using Trademarkia

Nancy highlighted the significant advantages of employing Trademarkia's legal services. She emphasized how our company offers unmatched expertise, with over 50 licensed attorneys from various countries. 

"Trademarkia has over 50 licensed attorneys from different jurisdictions or countries, and these  are top legal attorneys who have many years of experience," she explained.

Trademarkia’s attorneys guide clients through every step of the legal process, giving business owners peace of mind.

“Trademarkia’s attorneys are number one when it comes to that. They will carry you every step of the way, and you'll be able to rest assured and have peace of mind when you go home knowing fully well that the legal services of your company or business is going to be sorted out by Trademarkia,” Nancy added.

Additionally, our offers cost-effective packages suitable for small businesses and startups, making it an accessible option for companies of all sizes.

“Our fee package is something that any business can afford. It is not something that is going to shock a startup company,” Nancy stated.

Steps to take when your IP is infringed upon

When a business suspects that its intellectual property rights have been violated, Nancy strongly advises engaging the services of an attorney immediately. "My first advice is to engage the services of an attorney because a lawyer knows how to handle such things,” she advised.

Nancy also shared an example from her professional career, where a client’s failure to act promptly led to a lengthy legal battle. 

“I know a case in issue. One of our clients could not take the steps of engaging the services of a lawyer, and it eventually even led to the point of the infringer taking steps to register the trademark in question as if the trademark belongs to him. 

So, it eventually went to court. And at the end of the day, although our client succeeded, it was difficult for the client to get that judgment,” she recalled.

Best practices for monitoring and enforcing IP rights

Nancy recommended three key strategies for businesses to effectively monitor and enforce their intellectual property rights:

1. Conduct routine market searches: “Conducting a routine market search will help you to know whether your competitors are actually registering an identical or confusingly similar trademark to yours,” she advised.
2. Perform monthly e-commerce searches: “You can conduct a monthly e-commerce search too, with the aim of identifying whether something similar to your mark is being sold online,” Nancy suggested.
3. Engage watch services: “A lawyer is someone that will help conduct this watch service. So, what this service basically entails is when a trademark journal for a particular country is being published, the attorney in question will help you to look out for any mark that might be confusingly similar or identical to yours. And the lawyer will inform you,” she explained.

These practices help businesses stay vigilant and protect their intellectual property in both physical and digital markets.

The importance of international trademark registration

Nancy discussed the critical importance of registering trademarks not just in the U.S. but internationally as well. 

She shared her experience assisting clients with trademark registrations across multiple countries, including Canada, Mexico, and the United Kingdom. 

“Sometimes they feel like just protecting their trademark in the UK will protect them, but what they do not know is that trademark registrations are territorial,” she said.

Nancy also highlighted the advantages of using the World Intellectual Property Organization (WIPO) Madrid Protocol, which allows businesses to file a single application that can protect their trademark across multiple member states. 

“It's like killing three birds with one stone. You can file one application, and that one application will extend to other member states,” she noted.

Industry with the greatest need for IP protection

Nancy identified the fast-moving consumer goods (FMCG) sector as having a particularly high need for trademark registration and protection. “These industries keep producing on a daily basis,” she emphasized.

She also touched on the challenges and benefits of purchasing a brand, particularly in the context of trademark assignments and the complexities involved in negotiating assignment agreements.

“Some of the challenges that I faced in the course of that transaction was the back and forth with the assignment agreement because sometimes the parties will have issues with some of the clauses in the agreement,” Nancy remarked.

Considerations for startups and small businesses

Startups and small businesses need to be especially cautious about protecting their intellectual property. 

Nancy advised that startups should always have a non-disclosure agreement (NDA) in place before sharing their ideas with third parties. 

“You need to have an NDA in place. An NDA is a non-disclosure agreement. That way, you are sure that the idea you're sharing with anybody is not something the person is going to steal,” she explained.

Moreover, she emphasized the importance of patience in the IP protection process, noting that while it may take time, the long-term benefits of having protected intellectual property far outweigh the costs. 

“Even though the steps to protect an intellectual property right might take time, people should make sure that they exercise patience,” Nancy said.

The growing importance of IP protection in 2024

Nancy affirmed that the need for IP protection is more significant than ever, particularly with the rapid growth of the digital age. “The importance of protecting our intellectual property rights can never be overemphasized, especially with the new digital age that we are in,” she stated.

As new technologies and platforms emerge, businesses must be proactive in securing their intellectual property rights to avoid costly disputes and loss of market share.

Challenges in the African market

Discussing the African market, Nancy noted that infringement cases and piracy are prevalent across the continent.

“We have a lot of cases of infringement, piracy, copyright infringement, and all that, and legal practitioners in the intellectual property field are trying as much as possible to sensitize the public, and sensitize business owners on the need to protect their brands,” she shared.

Intellectual property protection has never been more important

Nancy’s insights underscore the critical importance of intellectual property protection in today’s global market. 

Whether you’re a startup or an established business, Trademarkia offers the expertise and support needed to safeguard your brand and intellectual property rights.

For businesses looking to protect their trademarks and expand their reach internationally, Trademarkia provides a robust legal framework to ensure that their intellectual property is secure across multiple jurisdictions.

Protect your brand, register your trademark with Trademarkia.