Why I love software product companies

01 Mar 2023 - Frans Vanhaelewijck

SoftwareCompany

Software product development is a fascinating field, with various benefits that make it unique from other industries. One of the most compelling reasons I love software product companies is intellectual property (IP) protection. In this blog post, I will discuss why protecting intellectual property is crucial and how software product companies can maintain ownership of their creations.

More that just code

First, let’s discuss what intellectual property is. Intellectual property is a creation of the mind, such as inventions, literary and artistic works, designs, and symbols, among others. In the software development industry, intellectual property is of course your software code, but also algorithms, designs, documentation and so are part of your intelectual property.

Make it explicit in all your contracts

As a software product company, protecting your intellectual property is critical to your success. You need to be clear and explicit in your contracts about what you consider your intellectual property. This protection is essential because software development is your primary business, and your creations are your most valuable assets.

How to get paid for new features and retain IP ownership

When a customer requests you to develop a feature specifically for them, it’s crucial to ensure that the intellectual property of what you are making remains yours. While some customers may argue that everything they pay you for is their property, there are strategies you can use to maintain ownership.

Why Software is the most beautiful industry to be in.

I don’t know of many industries in which you can create something, sell it to a customer and get paid for it and still retain the ownership of what you just sold.

Moreover, your customers are funding (part of) your future developement and as a result, your product has more features and justifies a higher license price!



frans@vanhaelewijck.com