One Property That Is On The Way Up
Activity in the real property market may be in decline but activity relating to intellectual property which covers trade marks, copyright and patents is on the increase.
Matthew Gingell, intellectual property specialist at law firm Foot Anstey explains “The number of trade mark applications we are filing is increasing. Patent attorneys tell us they are busier than ever and the number of passing off claims being brought through the courts is rising.
“In an apparent counter cyclical trend, intellectual property is becoming more important to businesses than ever before.
“Innovation often comes out of more difficult trading conditions. So perhaps it’s the ability to preserve market share in a very competitive market by enforcing trade marks or creating new revenue streams through inventive products and services.
“Whatever the reason for this increasing activity, it’s a positive sign for the economy that businesses are identifying the value of their intellectual property and protecting it.”
Most businesses know about the leases on their property but are unaware of intellectual property they may have created or already own.
Intellectual property can be difficult to value but similar to real property, intellectual property can be bought, sold, leased, charged and licensed.
Similarly, the rights of ownership can in some cases be challenged and the boundaries of IP rights are often disputed.
Matthew Gingell adds a warning “If a business engages third party designers or consultants the IP will normally vest in the third party rather than the commissioner of the work, unless agreed in writing. So make sure your paper work is in order.”
Published 10/03/2009
