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STEP 5: Create Key Assets I definitely would not startup a business without any key asset. But it doesn't stop here. My key assets are only as good as my ability to protect them, especially when intellectual property is concerned. I have summarized five key assets that are crucial to all businesses - regardless of its nature: * Website * Trademarks * Copyrights * Patents * Confidential Agreements Website As we live in the world of information, businesses are turning to the Internet for retailing opportunities, marketing and servicing. Every business should have a Website regardless how big or small the operation and the key to establishing a Website is securing a domain name i.e. http://www.yourbusinessname.com or http://www.yourbrand.com. Once a domain name is established, anyone can create their own Website using DIY software or engage a Website designer to get the job done. Trademarks My brand name, logo, and any other symbol that distinguishes my company or goods from others are classified as my trademarks. Trademark is one of the most important business assets I'll ever own. I need to register my trademark with the local authority to ensure that I am the official owner of the mark, which gives me the sole exclusive rights to use the trademark. Copyrights A copyright grants me the exclusive legal rights to my creative work, which can include anything from literary or Website content to artistic compositions. I need to file a copyright with the local authority before I reserve the rights. Once granted, it prevents others from copying, performing or using my work without my permission. Don't confuse copyright with trademark. Trademark is used only to protect intellectual property such as company names, brands, logos and symbols. Patents