It is a fact of life these days that a company needs to hold solid intellectual property (IP) rights in order to attract investment. Most company chiefs appreciate the importance of IP to their business and the need to take action to protect it. However they can be baffled by the complexities. There are plenty of pitfalls for the unwary, so it is essential to take sound professional advice.
It is a common misconception that the holding of an intellectual property right gives the holder the right to commercially exploit the property owned. In fact there are other quite separate legal authorizations which may be needed, for example, a license for a gun or a marketing authorization for a drug. However, what the holder of the right can do, is assert it to stop others commercially exploiting the IP right without permission and of course, as a property right, IP can be bought, sold (assigned) or licensed as a useful source of revenue.
