Intellectual Property has always been important, particularly in the advancement of business, however, given the surge in technological advances, Intellectual Property has never been more important.
Intellectual Property [or as they are more commonly known “Intellectual Property Rights” (IPR)] take many formats. As a business, you shouldn’t underestimate the significance of IPR – in many cases your IPR can become a valuable business asset. For example, certain IPR has the ability to be exploited to help raise further finance (from the Bank or other external investors) as opposed to potentially having to provide a Personal Guarantee; it can be licensed out (enabling you to receive a royalty) to a manufacturer or used under a franchise license.
Undoubtedly, all of which will assist your business.
Given the various formats that IPR can arrive at, it is important to ensure that your Rights are as protected as they can be [because not all IPR is registrable]. IPR is not restricted to the commonly known IPR such as Trade Marks or Patents or Copyright but could even extend to certain methodology / processes that you may use (in day to day business) or your customer information. Undoubtedly, it will also include your reputation – your standing amongst your contemporaries and your competitors.
Not only that, it is important to ensure that you are the legal and beneficial proprietor of the IPR. Certain presumptions may be affected by the nature of the relationship with the person you contracted with. To not have the correct rights and ownership in place may well be significantly more costly than taking the steps to acquire those rights in the first place.
Whatever the size of business you operate, it is necessary to take the steps to try and protect and maximise your IPR as much as possible. The failure to do so may well put you in a position where you find it difficult to utilise and/or claim entitlement to your own IPR.
Our team of IP lawyers understand the value and importance of Intellectual Property Rights and so, have devised a questionnaire that we take you through enabling us to understand the full extent of your business which in turn enables us to offer guidance and navigation through common [and no so common] pitfalls of modern day business transactions thereby maximising your business opportunities and hopefully, generating a further and additional revenue stream for your business.
Our experience includes:
- Licensing / Assigning / Selling of Intellectual Property Rights;
- Commercial Arrangements;
- IP Audits;
- Prosecution of Trade Marks before UK and EU Intellectual Property Offices;
- Intellectual Property Litigation before the relevant Intellectual Property Tribunal, the Intellectual Property Enterprise Court and the High Court.