Don’t neglect your Intellectual Property; it can be a tangible business asset

All businesses own and use intellectual property. Intellectual property is often associated with new inventions. But it’s much more than this. A company’s brand, the technology it uses, the data that it owns and the licences that it holds to use intellectual property owned by others, are all valuable assets that contribute towards distinguishing your business from the competition.

Strangely companies will invest considerable amounts of money of developing and marketing products and services, creating considerable intellectual property in the process but elect not to protect this valuable asset. Yet that protection ensures that the investment won’t be lost, stolen or exploited by others – not only competitors but employees, suppliers, consultants and other third parties with whom you have, by necessity, shared your intellectual property.

Business owners should seriously consider the value of their intellectual property, particularly if a future sale of the business is likely. IP is an important asset of a business greatly adding to its value; something that serious and experienced buyers will be very aware of. Having protected IP could well be the difference between an average and a premium sale price.

If you would like to understand more about what constitutes intellectual property and how to go about protecting it, talk to a specialist IP consultant or to a specialist IP lawyer in a commercial law firm.

You will find a selection on the Professional Partners page of our website or get some background information at https://www.gov.uk/government/organisations/intellectual-property-office

 

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