Many rights but little active management
Every business and even every non-profit or (semi)governmental organization has intellectual property or related rights. They have at least a trade name, a registered or unregistered trademark and an Internet domain name.
Gradually, organizations generate objects on which intellectual property rests or can be applied for. Think patents, design rights and copyrights. Especially companies in the industrial, innovative and creative corner and IT quickly deal with registered or unregistered inventions, know-how, design, software or other creations. Even there, awareness of the rights position is often completely lacking. The rights are hidden and scattered, without anyone caring about their management.
Large organizations such as Philips, ASML, DSM and AkzoNobel recognize the importance and employ many specialists and lawyers to manage rights. SMEs and even larger organizations take irresponsible risks and fall behind because they do not have their affairs in order
Corporate responsibility, risk management and governance
Attention and management of intellectual property are a matter of corporate responsibility, risk management and governance. Practice consistently shows that intellectual property rights reside in the risk-bearing PLC or operating company. In doing so, the company is taking an unnecessary risk. In any company, large or small, something can go wrong that prevents the company from keeping its head above water. It is a mortal sin if all rights fall into the hands of the receiver. Capital is lost and a restart is made more difficult. Management does not give this enough thought.
Allocation of rights within group
Generally, it is wise to keep the rights outside the at-risk operating company and, if necessary, transfer them to another company to achieve that. However, transfers must be made in a timely and proper manner, otherwise a trustee can easily reverse them. Thus, a valuation must usually take place to ensure that the transfer is made at a fair price and to ensure the validity of the transaction. In addition, guidance from an expert tax specialist is very important, also in view of the tax consequences and incentive schemes.
Awareness and inventory
Good management starts with awareness and inventory. This can even pay off directly in hard cash: maintaining pointless patents costs a lot of money every year. So time for a major cleanup, followed by structural management of rights and contracts.
Guidance
We can assist you in determining the inventory and complete management, if necessary in close cooperation with patent and trademark offices. Your crown jewels deserve proper monitoring.
