What is Intellectual Property Theft?

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February 6, 2017
Colson Hicks Eidson

Intellectual property theft is a very serious matter. When a person has an idea and develops it into something with a lot of value, other people may try to pass the idea off as their own. It is essential to encourage innovation and invention, which is why intellectual property laws seek to protect people who engage in this type of entrepreneurial behavior. If you have had your idea or product stolen from you, our law firm has the resources and relationships with experts to assist you. In this video, intellectual property attorney Patrick Montoya explains a case he handled regarding a doctor who created a medical device, only to have others steal the idea and sell it.

Video Transcription

Intellectual property theft is a serious matter. We recently represented a doctor who had created a medical device. He was working with a group of other medical doctors in his practice and two of the other doctors thought it would be a good idea to take his idea. Well, they took his idea. They sold it to a major manufacturer of medical devices for a lot of money. This doctor contacted us and said my item has been stolen, my intellectual property has been stolen, my ideas have been stolen, what do I do? So we looked at the case. The other doctors contended that, because he worked in the group that it was in fact their property. We eventually reached a settlement with them, that’s confidential, but it was a very good result for our client. Intellectual property theft is exactly what it sounds like. It’s stealing somebody’s idea and it’s a very serious matter. We have the requisite experience, both through teams of engineers, doctors, physicians, economists; experts in every field, to look at your intellectual property ideas, to see if they’ve been stolen by someone, so that you can receive compensation. For more information, you can contact Colson Hicks Eidson at our website, Colson.com.