Obtain intellectual property protections

Secure appropriate legal protections such as trademarks, copyrights, or patents to ensure that you won’t have any direct competition

These protections will give you the sole right to produce and sell your product.

2 types of patents:

• Utility patents are the most valuable as they protect how something works which is crucial if your product offers some kind of unique functionality to customers.
• Design patents provide protection for your product’s distinct visual appearance, which isn’t always essential if your design is relatively simple or doesn’t have a major aesthetic component.