Building Your Business Legacy: Smart Ways to Protect Your Ideas & Make a Difference
Business leaders around a table having a discussion
By Lori Kranczer and Jackie Stelling
Note: The following insights were taken from an in-person learning session for women entrepreneurs in New York City presented by the authors.
As a successful woman entrepreneur, you've worked incredibly hard to build your business from the ground up. Your unique ideas, creative solutions, and distinctive brand voice have helped you carve out your special place in the market. But have you taken steps to protect these valuable assets? And have you considered how aligning your business with causes you care about could further strengthen your brand?
Let's talk about two powerful ways to secure your business's future: protecting your intellectual property and making a positive social impact. These strategies not only safeguard what you've built but can open doors to new opportunities and investments.
Protecting What Makes Your Business Special
You know that moment when you came up with your business name or logo? The late nights perfecting your signature product or service? These creations are the heart and soul of your business—and they deserve protection. Here's how:
Trademarks: Your Brand's Best Friend
Think of your business name, logo, and catchy slogans. These are the first things your customers recognize about you. Trademarks protect these elements, building trust with your audience who come to associate your mark with quality and consistency.
Quick Tip: Remember that trademarks are specific to both geography and the products or services you offer. If you're expanding into new markets or product lines, make sure your trademark protection follows!
Copyrights: Guarding Your Creative Work
Those beautiful photos on your website, the content in your newsletters, the special software you developed—all these creative expressions can be protected by copyright. This ensures that others can't simply copy your work without permission.
Patents: Protecting Your Innovations
If you've invented something new or have a unique business method, patents can keep competitors from duplicating your innovations. It's like having a protective fence around your brilliant ideas.
Trade Secrets: Your Secret Sauce
Every successful business has its "secret sauce," whether it's a literal recipe or just your unique way of doing things. Keeping these elements confidential gives you a competitive edge that's worth preserving.
By protecting these intellectual assets, you're not just defending what you've built—you're increasing your brand's value. A business with strong IP protection is more attractive to investors and potential buyers, should you ever decide to sell or seek funding.
Turning Your IP Into Income
Once protected, your intellectual property can become a revenue stream of its own.
Licensing Opportunities
Have you considered allowing others to use your protected assets for a fee? This can create passive income without requiring additional work on your part.
Building an Acquisition-Ready Business
If your long-term goals include potentially selling your business, strong IP protection significantly increases your company's value to potential buyers.
To make the most of these opportunities, take these practical steps:
Conduct thorough searches to ensure you're not inadvertently infringing on someone else's IP
Register your trademarks and copyrights promptly
Include clear language about IP ownership in all your contracts and materials
Use watermarks and password protection for sensitive digital content
Making an Impact While Building Your Brand
As women business owners, many of us are motivated not just by profit but by purpose. The good news? Integrating social impact into your business model can strengthen your brand while allowing you to support causes you care about.
Look at successful brands like Bombas, Patagonia, and Toms. They've woven social consciousness into their very identity, connecting deeply with customers who share their values.
Here are some ways you might incorporate social impact into your business:
Environmental Leadership
Could your packaging be more sustainable? Could you source materials more responsibly? Brands like ECOALF have built loyal followings by prioritizing environmental responsibility with their "Because there is no Planet B" message.
Supporting Social Causes
Which issues matter most to you? Education? Healthcare? Women's empowerment? Companies like Marcella donate five school days for every design purchased, making education access part of their core business model.
Give-Back Models
The "buy one, give one" approach popularized by Toms and Warby Parker resonates strongly with today's conscious consumers. Could your business adopt a similar model tailored to your products or services?
The Business Benefits of Doing Good
Integrating social impact into your business isn't just good for the world—it's good for your bottom line:
Increased Sales: Today's consumers often choose brands that align with their values
Stronger Brand Identity: A clear social mission helps you stand out in crowded markets
Enhanced Visibility: Purpose-driven businesses often receive positive media attention
Talent Attraction: The best employees want to work for companies that make a difference
Cost Savings: Sustainable practices often reduce expenses over time
Investor Appeal: Social impact businesses are increasingly attractive to investors looking beyond just financial returns
Creating Your Impact Strategy
Ready to incorporate social impact into your business model? Here's how to start:
Define Your Why: What causes align with your personal values and business mission?
Set Clear Goals: What specific impact do you want to make, and how will you measure it?
Integrate With Your Brand: Make your social mission visible in your marketing and communications
Protect Related IP: Don't forget to trademark or copyright elements related to your social initiatives
Find Partners: Collaborate with nonprofits or other businesses to amplify your impact
By thoughtfully combining intellectual property protection with social impact initiatives, you create a business that's not only financially stable but deeply meaningful—to you, your customers, and your community.
Your Business, Your Legacy
As women entrepreneurs, we have the opportunity to build businesses that reflect our values while creating financial security. By protecting what makes your business unique and using your success as a force for good, you're creating more than just a company—you're building a legacy that can benefit your community for years to come.
About the authors:
Lori Kranczer is the Founder of Link Elevating Philanthropy, a boutique nonprofit and philanthropic consultancy in New York City. To learn more, visit www.linkphilanthropic.com.
Jackie Stelling is the Founder of JMS Legal, a U.S.-based boutique intellectual property law firm with a focus on trademark clearance, prosecution and IP-related agreements. To learn more, visit www.JMSip.com.
Connect with Jackie Stelling and Lori Kranczer on LinkedIn