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Entrepreneurship and Technology

By: Jaime Israel Dávila Gómez, Attorney.

In the last 10 years, technology-based entrepreneurship has been on the rise, especially those related to providing services through software. However, many of these projects overlook or relegate a fundamental aspect: the legal dimension.

Most entrepreneurs, and particularly those discussed in this article, encounter various legal aspects that provide protection to innovation. Their sole purpose is to ensure that the investments find a fair reward through social recognition of the inventor or author or receive economic compensation for contributions to the industry. In this regard, several legal frameworks are applicable from day one of any business.

Firstly, there is the concept of industrial secrecy, which can protect algorithms, programming code, and other information. While these elements cannot be immediately protected by other means such as patents, trademarks, or copyrights, they can be safeguarded through this framework.

Moreover, contracts represent one of the essential tools in the early stages of entrepreneurship. They provide a platform for confidentiality agreements with individuals involved in the project, including suppliers, consultants, employees, and customers. This not only prevents the leakage of valuable information but also ensures absolute clarity regarding intellectual property ownership, both the existing and the future.

Lastly, specific legal instruments are available for the protection of fully developed and ready-to-use elements. In the case of applications and completed software, copyright protection is the appropriate choice. For distinguishing signs of entrepreneurship, such as words, phrases, designs, commercial images, sounds, odors, and more, trademark registration is the primary protective tool. Finally, for technological innovations, legal instruments like patents, utility models, and others provide exclusivity over the developed technical solutions.

It is of paramount importance to seek appropriate legal counsel to ensure that every effort and investment, be it material, financial, or human, benefits the project and entrepreneurship as a whole.

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