What steps can businesses take to protect their intellectual property?
WHAT STEPS CAN BUSINESSES TAKE TO PROTECT THEIR INTELLECTUAL PROPERTY?
Simon Barker, IP expert at Freeth Cartwright’s Birmingham office, has the answers.
Intellectual property - innovation and ideas - is the lifeblood of any business. And, like any valuable corporate asset, it should always be protected. So, what steps should you take to protect your IP from unscrupulous employees and competitors?
1. Identify your IP
When developing new ideas or designs, ensure that proper records are kept. For example, dated design drawings can be important in establishing unregistered rights in designs. It is also important to prove ownership of IP. Generally IP created by an employee will be owned by the employer, but that is not true of consultants or other third parties. In these cases, it will be important to have a written agreement dealing with who owns the IP created.
2. Protect your IP
Engage a professional who will be able to help you understand where the value lies in your IP and whether, for example, to file for a trade mark, patent or design. The law in this area is complex and it is important to understand how and where the IP will be used in order to obtain the best protection. Implemented correctly, registered IP rights add real value to the business and are attractive to investors and buyers. Having identified your IP, ensure that you use appropriate notices on products, brochures and websites.
3. Monitor
Look out for people copying. These days, the internet provides a useful resource for monitoring any number of IP infringements such as copying of photographs or text from your website, someone using your name or a similar trade mark that risks confusion in the marketplace or copying of your designs or a product for which you have a patent. A third party may apply, sometimes innocently, for rights which conflict with yours. IP professionals offer services to watch out for such events, all of which form part of the machinery needed to maintain your rights effectively.
4. Enforce your IP
Maintaining the value in your IP is dependent upon taking action when you identify infringement, which could mean threatening court proceedings. Care needs to be taken here because groundless threats of legal action can be unlawful in relation to certain rights. Always consult your IP lawyer in such instances. If your problem is with counterfeit goods, then HM Revenue & Customs may assist by seizing goods, or local trading standards may be able to help. Different cases warrant different solutions and your IP lawyer can help you devise a suitable strategy.
5. Safeguard internal and external dealings
Finally, if you are developing an idea, design or an invention, or you have commercially sensitive information to protect, such as customer lists or financial information, you should take steps to limit access. Also ensure that appropriate policies are in place to govern disclosure or use of that information. Certain IP rights, such as patents, are dependent upon being new for protection. This means that if an invention is openly disclosed to a third party then it will adversely affect the validity of any patent that may be granted. All dealings with third parties, such as consultants or partners, must be subject to confidentiality agreements. There should also be an agreement dealing with ownership of the IP.
ends - 30 July 2010
To discuss any of the issues raised or other IP matters please contact:
Simon Barker
Tel: 0845 634 2583
Email: simon.barker@freethcartwright.co.uk