Trade mark specialist Marks & Clerk today (August 24) said businesses should still seek expert advice ahead of Brexit, despite some clarity over industry issues post-split.

Campbell Newell, Partner from Marks & Clerk’s Edinburgh office, who attended the recent International Trademark Association (INTA) conference in Barcelona, revealed massive strides have been made to secure a plan for trade mark owners post-Brexit.

It’s now almost certain those with a European Union trade mark (EUTM) will simply see their registrations be replicated to the UK register, as administered by the UKIPO. Essentially this means owners of EUTMs will have ongoing protection for their trade marks in the UK as well as the rest of the EU.

Speaking today (August 24), Campbell said: “There has been a lot of speculation as to what will happen post-Brexit. It now seems highly likely that on the point of Brexit businesses having EU trade mark registration will have a UK registration as well as their existing EU registration.

“This is good news in that it brings certainty for businesses and for trade mark owners. There is also the added bonus in that there is unlikely to be any official cost to the process.

“While this is all great news for trade mark owners in the sense that those with EUTMs will be faced with a very straight forward process, it should also be caveated with the awareness that there will be a number of very complex issues to come out of Brexit, which as we know is a fluid and ever changing process, so it’s advisable to seek expert guidance.

“We have teams at the ready across the UK, Luxembourg and France to guide businesses through the process around trade marks post-Brexit.”

Intellectual property (IP) can cover a variety of elements, from patents and registered designs to business trade secrets.

It is crucial to the success of your company that you protect your IP, as this can be as important as the products or services you sell – sometimes more so. If your business is based on your IP (for example, a patent), it becomes even more vital to protect it adequately.

The 5 tips below will help you protect your business and enable it to commercially exploit its IP. By following them, business owners will avoid a number of costly problems and pitfalls common to start-ups across all sectors.

1. Get a good understanding of IP

IP is an intangible asset that can make or break your business. It encompasses creations of the mind, including patents, designs, copyright works, and trade marks. IP can be protected through a variety of legal measures that offer recognition and help protect business revenue. If managed correctly with conscious planning, this can safeguard a business’ assets and ensure healthy relationships with clients, partners and competitors alike.

2. How does IP relate to my business?

Whether you are an inventor, creative designer, writer or software developer, your work will often constitute IP. If you seek the appropriate help and protect your ideas, this can work to protect the longevity of your business, prevent competitors benefiting from your IP and give you options to licence or sell your IP rights in the future.

3. How can IP affect my business?

If unprotected, your lead competitor can take advantage of your IP, and potentially take your product to market before you. Speed is everything, meaning you could lose your competitive edge and potential customers, damaging both your reputation and cash flow. Once you have protected your IP, your competitive edge and market share is safeguarded. This gives you a right of challenge, but also the opportunity to sell the IP if your business wishes to step out of the market or diversify.

4. Do I need a trade mark?

If you have niche product, an online business, or have plans to expand your business abroad, securing trade mark protection will protect and add value to your business. An early decision involves where you will trade and under what brand. If you intend to use the same name worldwide, you will need to check its availability internationally and then protect your name, country by country, focusing on your most important markets first.

5. Working with contractors and suppliers

If you collaborate with contractors, freelancers or non-employees on any form of IP creation or development for your business, you should put in place a written agreement which not only describes and records the IP but also states that all IP created belongs to your business. Otherwise, the IP remains with your contractor.

If you need to disclose any confidential information or trade secrets to third party suppliers, either prior to negotiations or upon commissioning work, always have in place a confidentiality agreement beforehand.