When pooling technological expertise in joint ventures and collaboration exercises it is important for all participants to keep the treatment of pre-existing intellectual property rights, as well as those generated in the future, within their sights and under regular review.
It is those companies which own or obtain access rights to such intellectual property that will be able to exploit the rewards.
Marie McMorrow sets out the following basic guidelines.
Internal Due Diligence
How do you generate intellectual property? Usually, the owner of IP produced by an employee is the employer, provided creative activity is undertaken during the normal course of employment. Ensure employment contracts adequately explain and clarify the scope of ‘normal course of employment’ to avoid future disputes on the issue - which typically arise once an employee has moved to a new and competing employer.