Archived News

Intellectual Property –Are You Getting it Right?

15 November 2007

In a world where almost every business is increasingly dependent on non-physical intellectually created assets, the importance of the intangible assets of Intellectual Property is critical. Intellectual Property (or “IP” as it is commonly known) and the rights attached to and pertaining to it protect the expression of technological, literary (including reports and computer programs) and artistic creations. Ownership of IP is extremely important since it gives the owner the exclusive right to prevent the unauthorised use or exploitation of IP, so that in the same way you can own a piece of land and prevent other people from building on it etc, you can own the copyright in a book or software and prevent unauthorised use or grant licences and receive royalties.

There are a number of different types of IP, the most common being:

Patents
Trademarks
Copyright
Confidential Information
Designs
Domain Names

The various types of IP can conveniently be divided into two categories:

those arising automatically upon creation such as copyright and unregistered design rights also known as 'soft IP'; and
those which require registration such as patents, registered trademarks, registered designs and domain names generally referred to as 'hard IP'.

Why IP is important to your business

IP is important to almost every business for a number of reasons:

Firstly, looking at the business brand, if a business has a strong brand then it is more likely able to be distinguished from its competitors and obtain a greater share of the relevant market; it also helps increase the business value of the company and to attract future investments.
Secondly, considering whether you should own IP created for you - this gives you a competitive market advantage by way of preventing its use by other businesses.
Thirdly, IP increases the ability to successfully defend your business against infringement claims by third parties including a competitor trading on your good name and use of counterfeit goods.
Last but not least, IP can boost a business’ income by maximising its potential, whether it is by way of licensing, assignment, cross-licensing or other types of collaboration facilities.

How to make the most of your IP

In order for a business to derive the benefits from its IP, it is important that it has an IP strategy, which is in harmony with its corporate and marketing strategies.

For example, does a business know where the IP that it is using comes from? Does a business buy a license from its competitors or does it develop (maybe using consultants and subcontractors) and sell the technology itself? Do employment contracts address the employee created IP? Does a business know where its IP is held and how it may be used in order to create and increase shareholder value and last but not least, does a business know the value of its IP?

In order for a business to build an IP strategy with an ultimate goal of assessing and increasing the value of its IP, it will need to address issues such as:

Ownership
Protection
Exploitation

Our suggestion would be that the starting point is for a business to undertake a review and audit of its current IP portfolio. An audit to help you identify key issues that you will need to be addressing as part of a full review of all Intellectual Property owned or used by you is generally the first step. It is also recommended that such review is undertaken on a regular basis to ensure that the IP strategy keeps up and reflects the business needs.

Harris Cartier, through its dedicated and expert Solicitors, can help you in this and any other Intellectual Property matter that you may have.

Harris Cartier’s Intellectual Property and Information Technology services include:

General advice on 'soft' Intellectual Property Rights;
General advice on 'hard' Intellectual Property Rights;
Acquiring, Protecting and Exploiting Intellectual Property Rights;
Merchandising, Sponsorship and Endorsement Agreements;
Licence of Brands and Names;
Publishing Agreements;
Media Rights;
Advertising and Marketing Agreements;
Technology Procurement Agreements;
Website Design, Development and Hosting Agreements;
Support and Maintenance Agreements;
Website Auditing;
Licensing and Distribution of Software Agreements;
E-Commerce Agreements;
Outsourcing Facilities Management Agreements;
Enforcement of IP Rights;
IT Litigation;
Arbitration;
Alternative Dispute Resolution

Harris Cartier can assist and add value to your business by:

undertaking a business strategy review, understanding what mechanism already exists in terms of capturing and protecting IP and if necessary;
elaborating a system internal/external for capturing IP by putting in place relevant contractual documentation and internal procedure dealing with confidentiality issues;
identifying scope for licensing IP in or our allowing your business (where appropriate) to gain revenue from its IP and if necessary, license in (as and when) the necessary expertise or technology without the time or costs of creating IP from scratch;
watching competitors portfolios of IP and understanding where market trends;
assisting in building and strengthening company’s brands;
protecting new products; and
providing a general risk assessment in relation to attacks from third parties;
providing infringement opinions and
preventing that valuable IP (and revenue) is lost.

From a commercial point of view, we offer the full range of services ranging from distribution to supply, purchasing and other commercial agreements.

Our IP and IT team is led by Dr. Maria Anassutzi, who is always happy to work with our clients and form an integral part of their business.

With technical legal knowledge always as a given, Maria insists that the service the IP/IT team provides to its Clients must be:

Commercial - in its approach of legal issues and solutions;

Responsive - when, very often, time is of the essence for the Client’s business and it does not stop because of holidays or weekends;

Pragmatic - sometimes a different route is needed to obtain a result.

Innovative - in charging mechanisms and models.

To find out more and how Harris Cartier is able to help you and your business, please do not hesitate to contact Dr Maria Anassutzi, the Partner in our IP/IT department on:

Tel: 0207 440 9648
Fax: 0870 608 5396
Mobile: 07912 466 949
Email: manassutzi@hclaw.co.uk