Are your brand’s intellectual property assets properly protected?
6th April 2020 by Edwina Bones
The current necessary restrictions imposed by the Coronavirus (Covid-19) have meant many businesses are struggling to trade and may need to start from scratch when the economic climate recovers. But what if a competitor acquires key Intellectual Property (IP) if a business ceases trading, meaning that any successor business will not be able to trade under a name that was recognisable to its former customers?
Increasingly, a business’s visual identity can be one of its most valuable assets, so during the uncertain times of Covid-19 it may be prudent to review your businesses IP assets to ensure you have the necessary protection, should it be needed.
Many businesses register their IP rights, particularly Trade Marks, in a separate non-trading company which they control, which is then licensed back to the trading business. This means that should the main trading business become insolvent, the business will still keep control of its IP assets, and will be able to use them in any successor business.
Laceys are really proud to be the only Dorset based firm to be recommended within Intellectual Property in the 2020 Legal 500 Guide, an independent endorsement for the excellent service we provide to clients.
If you would like to discuss the management of your IP assets, please contact Edwina Bones from our Company Commercial team who will be happy to help.
Edwina Bones
Associate — Corporate and Commercial
Direct dial: 01202 377824
Edwina has returned to Laceys after working for Womble Bond Dickinson in Southampton and is an Associate within our Corporate and Commercial team. Edwina specialises in commercial contracts, intellectual property and charity law and has experience in drafting, negotiating and advising on a variety of agreements. Since qualifying in 2011, she has advised a range of businesses in various sectors. This includes a secondment working in-house for a well-known multi-national retailer.
Edwina has been listed in the Legal 500 as having an “incredible knowledge and a drive to do things right’. She enjoys getting to know a client’s business in order that she can provide tailored, practical advice.
Outside of work Edwina enjoys practising yoga, walking her energetic Labrador in the beautiful Dorset countryside and generally keeping active as well as spending quality time with her family and friends.
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