INTELLECTUAL PROPERTY LAW

Alex McDonald, Intellectual Property Law Barrister

Intellectual property matters. Often businesses which do well have managed to do things in distinctive and original ways. Success often leads to imitation, so one of the greatest dangers a business may face is losing control over its intangible assets such as reputation and goodwill, brands, trade secrets and other proprietary knowledge.

Some intangible assets can be protected by established registration processes for trade marks, designs and patents.
However the protection of other intangible assets (for example, confidential business information, unregistered designs and new processes) requires careful management.

Businesses protect their intellectual property because it often gives them an edge over their competitors. Intellectual property can also offer potential additional revenue sources through licensing.

Although the protection of IP is of potentially crucial strategic importance to most businesses, often small firms are largely unaware of intellectual property protection and the relevance it has to their own business.

The key to understanding intellectual property is identifying and understanding the different intellectual property rights. Read more here about different intellectual property rights: