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HOW CREATIVE ENTREPRENEURS ARE LEAVING MONEY ON THE TABLE 

Nigeria is a country full of CREATIVE People.However ,most of the CREATIVE people in Nigeria are not business oriented.

Their focus is on the creativity and not so much on the economic benefits derivable from their CREATIVITY.

Thus they do not earn as much revenue from their Creative efforts as much as they should earn.

For example, many creative Entrepreneurs do not register their Literary ,Artistic,Cinematography films,Sound recordings,Broadcasts and Musical works to give them the required legal protection to enjoy the FULL Benefits of their creativity .

According to the Copyright Law in Nigeria ,Copyrights arise automatically when an original work is created.

Copyrights protect “original works of authorship,” which include movies, songs, recordings, logo designs, website , software code,  paintings, illustrations, sculpture, photographs, books, articles, poems  and the like.

The creator of the work automatically obtains copyrights in the work and is immediately entitled to protection.

Registration is particularly advisable when a work is important to business operations or for economic benefits.

However,there are several benefits that occurs with COPYRIGHT REGISTRATION(NOTIFICATION ) of the Works,namely;

* Registration greatly enhances the value of the copyrights.

*It serves as a Public Record of Ownership 

An immediate benefit of copyright registration is the creation of a public record that puts the world on constructive notice of your copyright claim and helps defeat claims of “innocent infringement.”

A public record demonstrating a claim to copyrights will go a long way to demonstrate ownership in the event such ownership is challenged in the future.

*Evidence of Validity-With copyright registration, you get validity that lasts throughout your lifetime plus 70years after your death.

*Presumption of Ownership

This means ownership of the copyright is presumed, and anyone seeking to challenge ownership will have the burden to demonstrate otherwise.

*The LEGITIMACY to Enforce Copyrights by Filing a Lawsuit for Copyright Infringement 

One of  the most valuable benefit of registering copyrights is the ability to file a lawsuit for copyright Infringement.

*Eligibility for Statutory Damages, Attorney Fees, and Costs of Suit

*Protection Against Importation of Infringing Works-Anti Piracy Measure

Through the registration of such works ,rights holders can apply for banderole device, which are used on licensed copies to prevent pirates, bootleggers etc from copying and mass-producing Original works.

*Presentation of copyright registration to Customs will trigger the monitoring of potentially pirated goods and the suspension of their release where appropriate.

*Copyright registration as evidence of proof of ownership

Registration certificates of copyrighted works are also used during copyright enforcement in case of infringement before the courts to prove ownership and determine the context of such works in possible civil and criminal actions.

*   Copyright protection gives the owner the right to easily sell/transfer or assign his/her rights to a third party.

* The database of the NIGERIAN COPYRIGHT COMMISSION (NCC ) provides useful and accessible information to prospective licensees.

For a  quick Search to check if  the Copyright in your  Literary,Artist or Musical,Cinematography etc Work or similar Copyright to yours have been registered with the Nigerian Copyright Commission ,send CHECK to Whatsapp 08053266716  before close of business on Wednesday 22/7/2020.

 

Featured image -© Ucheosoka 2020 (REGISTERED COPYRIGHT OWNER)

 

 

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HOW TO PROTECT YOUR BUSINESS IDEAS BEFORE PITCHING TO POTENTIAL INVESTORS

Ugochukwu ,my friend from University days ,had always been tech savvy.He was always somebody I was sure will make loads of money from technological advancement.However,last week ,I met him and while we were discussing he kept on lamenting on how his ideas were being stolen by potential investors and they were making huge revenue from his investments.

I asked him how he was presenting his ideas to potential investors and his answers did not show that he did anything intentional to protect his concepts from being stolen.

Techpreneurs and creative people must know firstly,that the Law hardly protect ideas but protects expression of original ideas in a fixed medium,innovation,inventions ,Marks used in the course of business etc.

See below some few Tips on How to Protect Your PACKAGED Business ideas  Before Pitching to Potential Investors;

1.Do not present the HOW(process) from the beginning.Present an ELEVATOR Pitch (30sec max).

2 Do a proper investigation of the company or investor you are pitching to(due diligence)

3.Send documents to prospects via emails -create and document trails of ALL emails,correspondences exchanged during discussions and negotiations.

4.Keep the concepts secret before exposure to investors

5.Legally protect the packaging of your ideas via Copyright .Patents,Trademarks ,Industrial Designs etc BEFORE exposure to Third Parties.

6.Sign Non-Disclosure,Non- Compete,Non-Circumvention,Confidentiality and contract agreements with prospects(where possible) before exposure to Third Parties.

7.Always present your ideas from your Laptop .Do not use the Investors Laptop as the idea can be retained there via technology.

Be intentional !!!!!

Featured Image credit to Medium