Published Articles - Intellectual Property – A Hidden Asset?

It would be unthinkable for a business not to have a list of its tangible assets such as machinery and buildings, so why would a business consider it acceptable not to have a list of its intangible assets? Increasingly, businesses are carrying out audits of their intellectual property so that they can recognise, protect and exploit them.

If you are in business, ask yourself the following questions:- Do I employ people who may generate software, ideas or innovations as part of their employment – if I do will I own the rights to such? Do I sell or distribute products that may either be innovative or alternatively potentially infringe third party rights? What would happen if a competitor used the trading name of my business or a similar domain name – what rights do I have to my business name or other trade marks that are key to my business? What would happen if an ex-employee used trade secrets of my business? What are the key assets of my business – its people, its innovations, its