What is Intellectual Property (IP)?

Intellectual property (IP)describesall the non-physical property your company owns.

IPincludesfour principle rights:

Trade marks (brands, logos, slogans and more)

Copyright(documents, music, websites, artwork,video recordings and more)

Design Rights (registered and unregistered protection of shapes)

Patents(monopoly rights over anovel technology, formulation or process)

Intellectual Property also includes other business critical information that needs to be protected, like:

Client Databases, Supplier Lists, Bespoke Working Processes,Methods, Confidential Information, Articles of Non-disclosure, Distribution Agreements, Research and Development, Licensing Agreements, Software Agreements, Partnerships, Website Agreements,and much more.

Why is IP important to your business?

What would your business find harder to replace – the identity, ideas and expertise that underpin your business; or a month’s worth of stock?

  • In the UK (and in many other places around the world), businesses have shifted from mainly producing physicalthings –to sellingintangible goods and services.
  • Whether:brands, creative works, technology, designs, unique expertise or processes; IP has become critical to businesses– and in many cases, more so than physical property.
  • Consider Coca-Colawithout its iconic brand, or Google without its search algorithm… The biggest businesses in the world are predicated on IP - and often, this istheir main asset.
  • Success is keeping:identity, ideas, expertise and info under lock and key– not justinventory.
  • Many businesses underestimate the value of their IP– allowing it to stagnate or escape the business.
  • Newer businesses are especially at risk and often need help to understandthey IP they have; and the growth opportunities it offers.
  • A proactive strategy can not only lock downvalue within a business; but moreover, create lucrative revenue streams through: licensing, franchising, investment and more…

But where to start...?

Here @ Virtuoso Legalwe are a specialist intellectual property law firm.

Our team of experienced specialists collectively have decades of experience and in helping businesses understand and mobilise their IP for business growth.

For our clients this means:

  1. World-class IP expertise, readily available to work alongside your business
  2. Faster turnaround as world-class IP expertise is “in-house”
  3. Lower fees as work can be completed more efficiently than with non-specialists

We have created this intellectual property checklist to support businesses in identifying, prioritising and mobilising their IP.

By completing this checklist you’ll be able to:

1. Uncover the value of IP in your business

2. See how much your company is currently protecting its IP

3. Identify ways to protect your IP better

Either complete this on your computeror print, complete and send back to us.

Your Details

Your Name:
Your Email:
Your Company:
Your Position:
What Does Your Company Do?
Your Company Website(s):
Company Social Media Accounts:
How Did You Hear About us?

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Your Brand

Does your business have a brand (or brands)? If so, what are they?
Does your company use a logo? If so, please insert a copy here:
Where do you operate? The UK? EU? US? Everywhere?
Is the company name, or are any of the above registered as trade marks (in the UK, EU or Globally)? Tell us more:
Have you suffered from other’s copying your brand? If so, tell us more:
Where are you trading with these brands?
Where do you plan to trade in the next 5 years?
What products or services do you sell using these brands?
What products or services do you plan to sell using these brands in the next 5 years?

Are You a Creator?

Do you create written works (blogs, books, articles etc.)? If so, please provide some links.
Do you company produce imagery (photography, digital graphic, illustrations, artwork)?
Do you produce auditory work (music, podcasts etc.)?
Do you produce any motion images (videos, films etc.)?
Do you produce websites, or other digital works (e.g. games, apps etc.)?
Does your companyhave shareholders and partners?
Does one of your shareholders create most of the company’s IP (e.g. brand assets, designs, software etc.)?

Do You Design?

Do you produce any original 2D or 3D designs?
Do you protect these design by registering them? If so, please tell us more and provide links to the registrations:

Do You Invent?

Are you involved in any research and development?
Do you use or have had advice on R&D tax credits?
Do you rely on any technology, processes or formulations that are kept secret from the public?
If yes, have these been disclosed to anyone outside of the company (e.g. sales presentations, trade shows etc?
Do you have any registered patents?

Are You Digital?

Did your company create your website, and all hosted material (photos, video, text)?
Do you use your website to take orders and trade online?
Do you know who hosts your domain and website server?
Do you create software?
Do you outsource the creation of software for its product/service?
Do you make use of important databases (e.g. supplier and customer databases)?
Do you have any software agreements in place which are not standard (such as Microsoft licenses)?

Do You Want to Make Money from Your IP?

Do you license any of your creations, designs, brands or inventions to others? If so, tell us more:
Would you like to receive free updates, offers and news from Virtuoso Legal to help you boost your IP?

And that’s it!

By completing this exercise you’ll have a better indication of:

  • What IP you have
  • The extent to which it is protected,

And,

  • Some priorities you should really be thinking about moving forward

Next,return this worksheet to Virtuoso Legal,and we can help you make money from your IP.

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© Virtuoso Legal LimitedCopyright 2017