Intellectual property rights are the foundations on which many businesses are built – and they are often the key component in the value of that business. Making sure that your business protects its portfolio of intellectual property rights is critical, both in terms of securing your ability to exploit them and ensuring that they are the valuable business asset that you expect them to be.
There is a common misconception that if a business pays someone else to produce something for them, the business will automatically own the intellectual property rights in that work. It could be software, a website, a consultancy report, or quite literally anything else that is created by someone else. The law in this area is complex, but in many cases the intellectual property rights in something that is created for your business by someone else will automatically be owned by the original author – unless there is a formal, written agreement in place that meets the necessary requirements to assign those rights to your business.
Whatever the type of intellectual property, Star Legal can help your business get it right and protect these valuable assets. We have experience across many different sectors. We have seen many examples of businesses having paid considerable sums of money to have software or websites created for them, for example, only to find that they don’t actually own the intellectual property rights in them.
As well as advising you on how best to protect your intellectual property, we can prepare or review agreements with your suppliers, and negotiate them on your behalf with the buyer or their advisers.
Taking advice early on is a good idea, so for advice and help protecting your intellectual property, contact us today.