Growing Pains: How to avoid IP nightmares• Richard O’Connor – Partner• Cruickshank Intellectual Property Attorneys
Introduction – Or is it too late already?• What is Intellectual Property?• How commercially valuable is it?• Some lessons to be learned?• Questions & Answers• Consultations
Intellectual Property• Intellectual Property (IP) can be defined as Creative ideas and expressions of the human mind that have commercial value and receive the legal protection of a property right.• Intellectual Property Rights (IPR’s) typically include patent, copyright, trademark, design, know how and trade secrets
How Commercially Valuable are IPR’s?• Patents are monopolies, tax efficient, barriers to entry & ‘add value’.• Trade Marks represent companies reputation and quality.• Trade Secrets such as Coke’s incredibly valuable.
Lesson to be learned (and quickly).• Choosing the wrong name for products or services.• Failing to document ownership.• Entering into problematic licensing arrangements.• Failing to identify and protect intellectual property.• Trying to solve problems later.