Jonathan Cornthwaite is a partner at the law firm Wedlake Bell and he has recently commented that many small businesses in the UK have intellectual property assets that they are not taking advantage of. He also said that in many cases these assets, which are intangible, are often more valuable than the tangible assets of the business, which includes equipment, real estate, and machinery.
It is well known that much of the value of larger companies is in their intangible assets, but in general, many smaller companies do not think that they have the same kind of value in their intellectual property, but often they do and they should take steps to protect it and invest in it.
Wedlake Bell have explained to small businesses that there are many ways to protect their intellectual property, which can include patents, copyright, trademarks, and domain name rights. The law firm highlight that in recent years even very small companies have been willing to litigate in order to defend their intellectual property. Two cases that have recently passed through the courts in the UK have shown this.
Mr Cornthwaite has said, “Businesses in the UK, especially small businesses, are going through some of the hardest economic times for years and it is important that they protect their intellectual property during this time. In many cases the cost of protecting their intangible property is much lower than they think and there are sophisticated laws to protect their businesses interests.”