Your intellectual property can be enormously valuable for your business, setting you apart from the competition and giving you a competitive edge in the marketplace. Yet, neglecting to monitor your intellectual property can significantly reduce its value, threatening you with lost profits and damage to your brand’s reputation. That is why you should aggressively police your intellectual property and take legal action when necessary.
What is injunctive relief?
Although a lot of legal action in the intellectual property arena is about recovering compensation for damages caused by infringement, letting your lawsuit play out can take some time. While your claim is pending, the infringing party is free to use the mark, in the context of trademark law, unless a court grants injunctive relief.
However, since the focus of infringement is on compensable damages, many courts believe that wrongful use of the mark during the course of litigation can be paid for if the defend is found to have actually infringed on the mark in question. That is why before you can obtain injunctive relief you will have to demonstrate some other form of irreparable harm. This harm may include excessive consumer confusion, a severe limitation on your ability to conduct your business, or that your brand’s reputation is being significantly damaged by the infringer’s use of your mark on inferior goods.
Be active in protecting your marks
Injunctive relief is just one aspect of protecting your trademarks and your business as a whole. That is why if you have a valuable intellectual property portfolio, then you should have a holistic protection plan in place that you can act on at any time. Creating an effective plan requires knowledge of the law, of course, which is why many Miami-based businesses turn to law firms like ours for assistance.