How All Businesses can Benefit from a Specialist Intellectual Property Solicitor

Many entrepreneurs with bright ideas often come unstuck when it comes to marketing these ideas effectively. If an individual or company does not have an adequate means of finding their target audience, they may fail. If you have ever seen the BBC tv series ‘Dragon’s Den’ you will appreciate that many entrepreneurs fall down when they are questioned about what exactly their product and thus their company is worth.

In such cases, it can be very tempting to move too quickly, if a potential marketing partner comes into view. In the eyes of the cash-strapped entrepreneur, this potential partner may appear to be the key to all the hassles of getting the product or service developed, and the cash flow problems from not being able to sell enough of it, quickly enough.

It is at this time that you should seek to have a consultation with a specialised IP solicitor. IP can always be legally protected if the correct safeguards are put in place; the converse is that a potentially very valuable idea can effectively be handed to others to enjoy and exploit, should those agreements not be sufficiently robust.

One anecdotal example of this was a gaming software company that sought a partner to take its latest development to market. The partner, submitted a draft agreement which made a suggestion that the company assigned their patents and other IP liabilities. By employing an IP Solicitor, the company was able to propose a significantly more equitable agreement that protected their rights and limited their liabilities going forward.

In this circumstance having a good IP solicitor on board can mean the difference of a small and significant profit, it really is less about what you know, but who you know and what this specialised person can offer you. Even displaying the term ‘patented application pending’ will be crucial in securing business and being more competitive with rival companies.

The law is there, and the message is clear: if you make sure that you plan for the future and protect those IP rights, the rewards you reap will be significantly more. The wealthiest business men and woman internationally will ensure that their bright idea or new concept is legally protected by retaining an experienced IP lawyer.

About the Author:
If you want a specialist UK intellectual property services then contact Bonallack & Bishop today. They are experienced IP solicitors specialising in advising upon IP rights. Tim Bishop is senior partner at the firm, responsible for all major strategic decisions. He has grown the firm by 1000% in 13 years and sees himself as a businessman who owns a law firm.
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