A seminar on how to create a secure foundation for a business attracted more than 40 people in Hamilton.

The seminar, entitled “Is your business future secure?” was held hosted by the Bermuda Economic Development Corporation.

Among those who attended were entrepreneurs and business owners. Information was given on protecting intellectual property and securing business data.

Erica Smith, BEDC executive director, said the organisation recognised the importance of business owners starting with the correct foundation in order to ensure success in the future.

Melanie Fullerton, Associate at Cox Hallet Wilkinson, explained the importance of identifying the right information for your company, reviewing the differences between a sole proprietorship, general and limited partnerships, a company limited by shares and a limited liability company.

Stephen Lowe, Registrar of Companies for the Bermuda Government, shared how his team can assist by maintaining company registrations.

He stated: “Our goal is to promote good commercial relations in Bermudas business community.”

Mr Lowe reviewed the services they offered and encouraged attendees to maintain good standing by complying with Companies Act 1981 as well as the other 14 Acts they administer.

The second part of the seminar focused on protecting intellectual property.

Ms Fullerton defined what makes up intellectual property, namely creations of the mind, artistic works, designs, symbols, names and images, things used for commerce, patents, copyrights, and trademarks.

She said “an idea alone does not count as an intellectual property, but any words you write down does.”

Aubrey Pennyman, the Registrar General, explained the importance of protecting your intellectual property.

She said: “Protecting your IP can set your business apart from the competitors, as well as be sold or licensed, which can provide a source of revenue.”

Nancy Volesky, consultant, privacy & data protection for the Bermuda Government, closed out the seminar with a presentation on the need to ensure that the client data and privacy are protected.

Some of the key areas she highlighted included managing clients, personal information, using the personal information for only what it was intended, only capturing information that is required for the purpose of use and only maintain information for as long as you need to.

Ms Volesky offered an example of compliance. She said: “The sign at the pharmacy that tells people where to stand gives the person at the counter adequate space so that their personal information that is shared verbally is protected.”