Intellectual property is the general name given to the law covering patents, copyright, design right, databases, trade secrets and trade marks. It covers disputes including trade mark infringement and passing off, patent infringement, copyright infringement, design right infringement and theft of confidential information and trade secrets. It also covers the exploitation of those rights using commercial agreements such as licensing agreements.
Intellectual property is also often referred to as “intangible assets” and assets of this type are regularly overlooked and misunderstood in business. Unfortunately, companies often overlook the importance of registering their brands as trade marks, their technology and inventions as patents and their innovative designs as registered designs until someone rips them off. An expert intellectual property advisor will help you identify these assets and register them where possible. The advisor will also help you ensure that your employees don’t take them from under your nose and stop your competitors use them without your permission or payment.
15 ways in which an expert intellectual property advisor will add value to your business by:
1. Ensuring all your assets are registered in the locations in which you trade.
2. Help you defend your rights if your goods are copied and your intellectual property is ripped off.
3. Help you stop the financial losses which arise if your goods and brands are copied.
4. Ensure your portfolio of trade marks patents and design rights are managed efficiently and cost effectively.
5. Help put together commercial agreements such as licenses that will make you money and add considerable value to your company.
6. Advise you on the best way to protect your assets from being stolen or used without payment.
7. Advise you on holding structures and ownership issues.
8. Review your employment contracts to ensure YOU own what is created by your employees.
9. Make sure that when you sell your company, or buy another, that you get the best value that you can for key intangible assets.
10. Assist you to negotiate the right terms of supply, distribution, licensing and royalty payments.
11. Help you avoid being copied by overseas competitors.
12. Help you keep confidential information safe and ensure that your copyright material such as hand books, data, manuals, tools, website text, photos and test results are protected.
13. Help you trade effectively on line and comply with distance selling and consumer regulations.
14. Help you put in place key strategies such as international sales agreements and overseas regulations.
15. Advise you about legal expenses insurance to cover your legal risks.