IP Basics with Wiggin LLP ? OpenBusiness

Last night we had the pleasure of hosting our penultimate event in the Online Business Essential Clinics series way up high in the Wiggin LLP offices off Tottenham Court Road. Law firms do tend to have access to some very scenic backdrops of the city!

Wiggin LLP is a boutique firm of solicitors specialising in the media and technology sectors and we were lucky enough to have three experts in their field from the firm on hand; Ciaran Hickey (Senior Associate, Corporate), David Deakin (Consultant, Digital Media Group) and Gurminder Panesar (Solicitor, Technology). Over the course of the evening they took the group through a solid overview of the key Intellectual Property Rights (IPRs) involved when starting a technology company, ie; trademarks, copyright and patents, highlighting important considerations and impressing why it is vital to have all your legal ducks in a row.

From a lay person?s perspective this area is a potential minefield, there are lots of legal snags that can come back to haunt you if you are not conscientious from the outset. I find this especially true for start-ups as they are, in large part, inventors, and so it?s the expression of the idea that creates worth, in not owing this in full you are risking the valuation of the company. A few examples of fearful situations would be;

  • Early stage businesses without trademark registrations are vulnerable to copy-cat brands.
  • Registering a trademark can help highlight any conflict you may have with pre-existing registrations. If done early you can avoid cost of having to re-brand.
  • If you only register your trademark in the UK it can be copied by others registered in non-EU countries.
  • If your domain is registered by an individual who has left the company it can be costly to re-register if they decide it?s worth some money in return. (A common problem!)
  • Patents for inventions are hard to get as the criteria is not easy to satisfy and the application process can be lengthy and sometimes costly.
  • When a VC is considering investing in a business it will generally look at their IPRs (Intellectual Property Rights) as part of due diligence, if these are not secure it will greatly affect their decision to move forward.

I will say that this is not an exhaustive task, if you approach it in a thoughtful manner from the outset and seek some level of advice (whether that be through personal research or by asking a professional), you can continue with a piece of mind.

If you?d like to learn more about the topic Wiggin have supplied their slides in full here.

If you would like to attend this workshop or any other in the series please see here for more info and join the Minibar Meetup group to receive updates and RSVP lists.

The Online Business Essential Clinics are?delivered by?Minibar?in partnership?with the?ICT KTN

About the event series
The ICT KTN?Online Business Essential Clinics series addresses common business issues in web and tech companies. Our presenters are successful entrepreneurs, CTOs, investors, accountants and lawyers, who are amongst the best in the UK?s web sector. To find out more about the series and RSVP to upcoming events please see?here.

About Minibar
Minibar?is London?s largest tech meetup. Each month a?brilliant mix of around 250 web professionals, entrepreneurs, developers, tech investors and other geeks gather at Mother in Shoreditch to chat over a few beers and listen to some short presentations on what?s hot right now. To find out more about the Minibar meetups or other related events?sign up now!?

Source: http://www.openbusiness.cc/2012/07/19/ip-basics-with-wiggin-llp/

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