b'In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the Entrepreneurial Patent Attorney, Author & Speaker of Modern Thompson Patent Law, Craige Thompson.\\n\\n\\n\\nCraige\'s journey into the world of patent law is a fascinating one. He grew up working for his entrepreneur father, which sparked his passion for business. After a decade-long career in electrical engineering, he transitioned to patent law.\\xa0\\n\\nOver the past 24 years, he has worked with individuals and companies of all sizes, including tech giants like Apple, Google, Intel, and Honeywell. His mission is to protect entrepreneurs from financial ruin, a lesson he learned from witnessing his father\'s business collapse due to changes in government regulations.\\n\\nCraige explained that intellectual property falls into four categories: trade secrets, patents, trademarks, and copyrights. His expertise lies in patents and trade secrets, where he assists technology companies in safeguarding their innovative products and services from copycats and infringers.\\n\\nCraige emphasized the importance of protecting your brand reputation and trademarks. He explained that a strong brand reputation leads to a certain level of quality associated with your trademark.\\xa0\\n\\nHowever, some copycats try to trick people by using similar trademarks, thereby cheapening your brand. He stressed the need to act if someone misuses your trademark.\\n\\nCraige also highlighted the value of intellectual property as a business asset. He explained that patents can be bought, sold, rented, used as collateral, or enforced against others.\\xa0\\n\\nBy securing your intellectual property, you increase the valuation of your company, whether you\'re looking to exit, scale, or create additional income through licensing deals.\\n