Wednesday, 29 July 2009

Intellectual Property

I had a 'phone call last night from someone asking for a lawyer to help with a "copyright infringement". I said that he needed an intellectual property lawyer and what amazed me is that he didn't know what I was talking about! I find in my mentoring/coaching activities that so many people in business are completely ignorant about the value of IP. It's not unusual to find a company that sells nothing but IP (such as software apps) but have it written by a sub-contractor who will usually claim to own the IP! So if they decide to exit, the one and only substantial asset is owned by someone else.

So if you are in business, I would suggest you always think about the big day when you sell it and get your house in order now. I call it "Due diligence in advance". Any IP issues such as trade marks, designs, IP ownership need to be 100% documented and owned by you or the business. You wouldn't let your builder put an extension on your house and let him own it would you? Incidentally, if you want to make sure you are OK in this respect, go to www.pblegal.co.uk where you get London lawyer advice at substantially lower rates.

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