How To Protect Your Brand And Assets

Companies face a variety of risks: legal, financial, intellectual and asset-related. When these risks combine, they can put brands in jeopardy.

Fortunately, there are numerous ways to manage risks and secure your business for the long term. Here’s what you need to do.

Create Agreements With Employees

Writing employee agreements is essential for preventing damage to your business from the inside. Staff who must abide by contracts are far less likely to harm your enterprise.

There are several reasons for this. First, contractual agreements prevent employees from using your firm’s private records for their own gain. Either, they cannot access your files, or they cannot use them for personal benefit without facing legal consequences.

Second, contractual agreements prevent staff from sharing secret formulas or recipes or using them themselves.

And, lastly, and perhaps most importantly, agreements stop staff from stealing your intellectual property. They can’t, for instance, take your ideas and then set up their own business doing the same thing, stealing customers from you in the process.

Build Relationships With Facilities Security Partners

Brands also need to consider physical premises security. In today’s environment, it is essential for every firm to consider its security arrangements on its premises, including companies that don’t hold stock on-site.

Facilities security partners can provide a suite of services to protect your property and keep it safe. These include CCTV monitoring, RFID sensor installation, and perimeter fencing. You may also want to work with a graffiti removal company if you operate in an area prone to vandalism. Partners can ensure that your property remains attractive at all times while deterring criminals from causing damage.

Incorporate

Incorporating your business is another great way to protect your personal assets. You don’t want to put your car, home or savings on the line when you start a business. Forming an LLC or similar provides you with tremendous protection and lets you keep your business separate.

Secure Your Data

Firms that fail to secure their data are asking for trouble. Today, hackers perform millions of hacking attempts every hour against businesses, looking for weaknesses in their defences. If there are any issues with your IT security, they will find it and take advantage of it.

There are several things you need to do to secure your data and network. These include:

• Backing up all your raw data and files at a third-party location
• Hiring managed IT services to take care of your security requirements, including updates and monitoring
• Training your employees on how to spot the signs of phishing and other attempts to steal your private data

Apply For Trademarks And Patents

Lastly, applying for trademarks and patents is one of the best ways to protect your business and secure it for the long term.

But what does that mean, precisely? Essentially, it means working with various government departments to protect both your name and idea. Trademarks, for instance, mean that nobody else can use your name. Patents, on the other hand, mean that people can’t steal your ideas and then pass them off as their own products.