Intellectual Property Defined

Intellectual Property, IP, is something that comes from a creative idea. IP can include artwork, books, designs, symbols, inventions, or slogans. Each of these creations falls under the umbrella of intellectual property and has legal protections in place. There are different intellectual property protections, including copyrights, patents, trade secrets, and trademarks. Each category of IP protection is in place to cover distinct types of intellectual property. Copyrights protect artistic or literary works, while patents protect new inventions like products or processes. Alternatively, trade secrets include information that a company keeps secret, like recipes, while trademarks safeguard words, phrases, or symbols representing a business or product.

Licensing Intellectual Property

The creator of each type of intellectual property has ownership of their creation unless they form an agreement selling the property. Licensing agreements are also possible for each type of IP. In licensing, IP owners allow licensees to use their intellectual property in a specific way. Licensing agreements list the way licensees can use the intellectual property and the compensation owed to the IP creator. Licensing intellectual property is key to many business scenarios.

The Importance of Intellectual Property

Intellectual property protection is crucial for businesses since having their ideas open to all would create competitors and remove existing competitive advantages. IP protection also allows for individuals and companies to receive compensation for their R&D or creative work. Having a unique intellectual property allows a business to be set aside from similar companies while becoming an essential part of a brand. Protecting IP can assist a company in keeping its competitive advantage. In licensing situations, having a sought-after intellectual property can give a company a solidified profit by allowing others access to the IP.

Our Transactional Work

The area of intellectual property consists of a significant amount of transactional and advisory work. Our team of intellectual property attorneys has been part of many IP applications and licensing scenarios. We are experienced in drafting, reviewing, negotiating, and finalizing contracts and agreements relating to IP rights. In addition, we are experienced in the application process for each type of IP, allowing us to effortlessly walk our clients through the process without the added stress of uncertainty. Our team takes on an advisory role at the start of the IP creation process. We continue by assisting with all transactional aspects of a case, including; licensing agreements, finance agreements, and initial protection work. Our IP team is efficient in our practice and makes the IP application process as simple as possible.

Our IP Protection Work

After the successful creation of IP, it is crucial to make sure that it stays protected. In addition to the transactional work done during the application process to protect our client’s IP, our team has experience in the art of litigation. In cases where a client’s IP is facing infringement, we step in to enforce protection rights. Our team assists clients across multiple types of IP, with extensive experience in litigation cases involving copyright, patent, trade secret, and trademark infringement. Our attorneys have worked on complex litigation cases and know their way around IP protection inside and outside a courtroom.

Practicing Attorneys