Quick tips to mark World Intellectual Property Day

World Intellectual Property Day (World IP Day) on  26th April acts as a useful reminder to businesses of the value that might be contained in their data, know-how and brands, and of the steps that can be taken to protect and exploit that value. To mark World IP Day, our specialist IP lawyers provide some quick recommendations to help you take stock of your IP assets

1. Review IP portfolio strategies to maximise value and save costs
2. Review registrations and explore the potential to abandon non-core patents and trade marks
3. Institute clear policies to capture ideas, enhancing business value, and allowing decisions to be made on IP filing
4. Capture and maximise know-how, ideas and confidential information
5. Consider assigning or licensing IP assets that are non-core to realise value
6. Use IP as security for re-financing
7. Review contracts and policies to minimise misuse by departing employees of customer lists, research and development materials or software code
8. Always register your licence at the relevant IP registries
9. Consider tax advantages through the UK Patent Box regime

The Shepherd and Wedderburn team has specialist and extensive experience of advising businesses on intellectual property issues relating to fund-raising, mergers and acquisitions, IPOs and technology transfers. We can help maintain the IP assets and deal with any potential infringement. We can also assist clients on any IP purchase or in-licensing opportunities and, when the time is right, advise on the sale or out-licensing of their IP to third parties.

To read further articles or get in touch, visit our IP page.

Shepherd and Wedderburn will also be attending International Trade Mark Association (INTA) Annual Meeting 2014 in Hong Kong.