Page 23 - Moore Blatch Business Magazine edition 2

COMMERCIAL

PROTECTING YOUR BRAND IS MORE

THAN JUST A COPYRIGHT LOGO

You’ve dedicated endless time and money into creating the brand for your business. Every asset
of your brand, from your website and logo to the products and services you create is part of your
business assets, and now need to be suitably protected. It’s vital to keep on top of your Intellectual
Property (IP) – to safeguard your brand, stay in business and avoid falling foul of the law.

“The 2017 Intellectual Property Office report states that UK investment in branding totalled
£15.1 billion in 2014”

Y OUR IP IS PRICELESS
From your brand name to the products or services you create and WHA T HAPPENS TO IP WHEN Y OU
the processes you use, your IP is what sets your business apart. ARE SELLING Y OUR BUSINESS?
Imagine the disruption and financial damage if a rival started
trading under your brand name or copying your products. Share and asset sales
In share and asset sales, buyers will want details of all the IP
Your copyright, trademarks, design rights and patents are all unique you own and/or use. They’ll search public registers and
and should be protected by IP rights. IP also adds significant value to commercial databases, and ask for copies of contracts,
your business. When your key assets are unprotected, your business assignments and licences. If there are any gaps in your records,
is vulnerable, and less attractive to potential buyers. you may have to provide warranties to confirm that:
• your business is the sole legal and beneficial owner of all
MAKE Y OUR NAME SAFE right, title and interest in and to the relevant IP
Your business probably has at least one domain name, and possibly • the IP is free from encumbrances
others you either use or keep in reserve. To protect them, make sure • the use and exploitation of the relevant IP will not infringe
they’re registered in the name of your business. the IP rights of any third party
• the IP is not and has never been infringed by a third party.
It’s possible your domain names are registered in the names of
directors or employees who’ve since left the business or even Share sales
web developers with whom you’ve lost contact. Check now, and In share sales, your IP assets still belong to your business.
if necessary take action to make sure that your domain names are There’s no need for IP transfer documents unless the IP assets
registered in the name of your company. in question are owned by a different company from the one
being transferred or if the licences end because of a change of
PROTECT Y OUR IP ASSETS control. In these cases, your buyer will need to negotiate with
If you’ve ever hired a third-party supplier to write or design software, the licensor or owner for a new licence or assignment.
databases, your website or logos, do you know who owns the rights
in their work? Asset sales
In asset sales, the title to each IP asset sold must be
Check the terms of engagement. If the work they have created for transferred. This can be included in the sale agreement or by
you is not already licensed or assigned to your business, get that standalone documents. After the transfer or any registered
changed. It can be as simple as asking the supplier for a licence or IP, the relevant IP registers should be updated with the new
confirmatory assignment, but it’s best to ask for advice first. owner’s details. If you’ve used IP under a licence and the buyer
wants to continue using the IP, that licence must be transferred
PLA Y B Y THE RULES to the new owner. We recommend you ask for advice before
If your business uses proprietary software (such as Microsoft Office), you commit.
make sure you have sufficient software licences to cover all your
users. Too few means you’re effectively infringing IP rights and could
be sued.
DOROTHY A GNEW
KNOW Y OUR IP RIGHTS
Ideas cannot be protected, but copyright can protect an idea once the P artner, commercial
idea is expressed in a work. A new invention that involves an inventive 023 8071 8078
step and is capable of industrial application can be protected by a dorothy.agnew@mooreblatch.com
patent. Registering your trading name or logo as a trade mark can also
safeguard your brand. These IP rights can be used to prevent your
work or investment being used without permission and means you
can benefit from it by charging others for the right to use it.

22