Your business name, logo, website, written content, photography, social media handles and domain names can all have value. In some cases, they may become some of the most important assets the business owns.
The difficulty is that intellectual property is easy to overlook until there is a problem.
Who actually owns it?
One of the most common misunderstandings is around ownership. A business may pay someone to design a logo, build a website or create marketing materials and assume that, because they paid for it, they own it. In reality, that is not always the case.
Unless there is a clear agreement transferring ownership, the designer or creator may still own the intellectual property rights in what they have produced.
This can create real problems later, particularly if the business is sold, looking for investment or carrying out due diligence. A business may believe it owns its branding or website, only to discover that it does not have the legal rights it expected. That can delay or even derail a transaction.
Getting the basics right
There are some simple steps that businesses can take to reduce the risk of disputes later on.
If you are having something created for your business, such as a logo, website, marketing materials, photography, artwork or even written content, the agreement with the designer or creator should clearly state that the intellectual property rights belong to your business.
The same applies to domain names. Businesses should make sure domain names are registered in the business owner’s or company’s name, rather than in the name of a web designer or third party.
These are usually straightforward points to deal with at the outset, but they can become far more complicated later if ownership is unclear.
Using someone else’s content
Businesses should also be cautious about using content, images or branding that they do not own.
It is easy to assume that because something appears online, it is free to use. In most cases, if you did not create it, pay for it or obtain permission to use it, it is likely to belong to someone else.
Using someone else’s intellectual property without permission can lead to complaints, demands for payment or legal action.
Choosing a business name
Intellectual property issues can also arise when choosing a business or brand name.
Before investing time and money in branding, businesses should consider:
- Whether another business is already using the name
- Whether the company name is available at Companies House
- Whether the domain name is available
- Whether social media handles are available
- Whether there are any registered trademarks using the same or a similar name
Doing some basic checks at the start can help avoid the cost and disruption of having to rebrand later.
Protection does not need to be complicated
Intellectual property can become very technical, particularly around trademarks, patents and international rights. However, for most everyday businesses, the key point is understanding what has value, knowing who owns it and making sure the right agreements are in place.
A small amount of planning at the start can prevent much larger issues later on.
Intellectual property should support your business, not create uncertainty
Intellectual property is not just about protecting large brands or major inventions. It is about protecting the things that make your business distinctive.
If you are unsure who owns your branding, website, content or other intellectual property, or would like support putting the right agreements in place, our Company Commercial team can provide clear, practical advice tailored to your business.
