This video has been put together to help you understand that legal system a little more and so speak with your lawyers from a position of greater understanding.
Obviously we’re focussed on law for websites.
This video covers the first in a series of topics that we have received lots of question about.
Intellectual Property. What does that mean?
Intellectual Property is not a specific legal right but a collective term for a bundle of different legal rights including:
- confidential information
- trade secrets
Different things attract different types of protection, which we will look at later in the series. Next week its copyright.
The point is that identifying the areas where you have intellectual property in your business allows you to work out what you own, what you don’t own, what you don’t know about and what you have protected.
You can then make a commercial assessment about whether you spend money now to take ownership or to protect the intellectual property you are using.
When you go to value or sell your business, being able to identify and demonstrate that you have full rights to the intellectual property in your business can have a positive impact on the value of your business.