Avoiding Intellectual Property Pitfalls In The Oil And Gas Industry

Introduction

Whether it involves conventional or unconventional resources, participants in the oil and gas value chain are innovating to overcome technological challenges and improve competitiveness. Constantly, more efficient methodologies or tools are being developed (i) for extracting ever-depleting conventional resources, or (ii) to challenge conventional wisdom and potentially replace existing oil sands extraction approaches, or, (iii) after recovery, to more efficiently process and upgrade heavy hydrocarbons. Ingrained within this culture of innovation is the oil and gas ecosystem, which combines a spirit of entrepreneurship and a "get-it-done attitude" with the opportunity to participate in a booming energy economy. The existence of a legal framework, to govern intellectual property rights, is widely recognized and appreciated in the oil and gas space. However, because the relatively non-intuitive regulatory schemes relating to creation and ownership of