Intellectual property rights apply to something (i.e. the property) created by your mind (i.e. the intellect). They are an intangible asset (meaning you can’t touch them) which has commercial value and are often described as a ‘bundle of rights’.
As the creator of a work, you have the right to say how that work is dealt with – whether it is published, broadcast, copied, translated and more. You can licence or assign that right to another person or company for money. You can keep that right or sell it. You may also have a moral right in your work according to international convention.
This is an intricate area of law and one which walks a tightrope between supporting and rewarding creative innovation (i.e. to encourage the creation of new things) and protecting property for commercial advantage (so the owners can exploit products and make money).
Copyright, patents, trademarks and designs form a legal structure of ways to protect the creator and/or owner of the creative property.
IP can often be a business’ most valuable asset. If your business has intellectual property, it is imperative to protect it in order prevent other traders from infringing your intellectual property and trading off your hard work.
Moreover, a well-protected IP portfolio will add value if you wish to sell your business.
If you wish to register or enforce your intellectual property rights, contact our office for expert and experienced assistance. Some of the ways we can help are:
- registering a trademark;
- reviewing or drafting a contract to exploit intellectual property; and
- enforcing your intellectual property rights.
