What Not to Do in The IP Industry
Undoubtedly, 2021 is an unusual period. We are still in the midst of an outbreak, and several nations are still in a state of emergency. The changing landscape of innovation, the globalization of markets, the fragmentation of production value chains, and the emergence of new players are changing the way market actors use IP and policymakers understand rights and their role.
The context in which Intellectual properties currently operate is very different from the one in which IP rights were conceived. But there are some things that you must not do if you want to be a success story.
Don’t ignore the importance of employee agreement
For all employees who may create inventions, technology, or other IP while working for your client company, have them sign an agreement assigning all such IP to your client. When an invention, technology, or other works is created by an employee who has not signed a good IP assignment agreement - it can create significant headaches for your client in the future.
Well-drafted employment agreements often include IP assignment obligations. Such obligations, however, can also be established in other types of arrangements. Regardless of the exact agreement type, it should be signed when the employee starts working. Also, it should include a present assignment of future inventions (as opposed to merely saying the employee “agrees to assign” future inventions). In the absence of such an agreement, your client may not have the IP rights it needs.
Don’t leave it too late to register IP
Even if your client does not sell or manufacture in a country, particularly emerging markets such as China or India, it may be worth registering rights there too. Because most countries use a “first to register” system, which means that if you do decide to enter these markets in the future, you might find that your rights have already been registered by another company, and you will have difficulty operating under the same name.
Don’t worry if you don’t have an office or contacts in the target country. You can always use Lead IP’s RFX. It allows you to post a request for a proposal, quotation, information, or any other tender in any country of interest. Our users from all around the world will bid for your project, and you can compare the results, saving you time and money.
Don’t let your client publish anything about the invention
Don’t publish any details on invention or research until you have at least applied for patent protection. As soon as anything is published, your client loses novelty and will not be able to file it as a patent in any country. So instead, extend your patent to other key markets simultaneously as registering it in the country of origin.
Don’t give away rights to distributors
Many companies often fail to get distribution and manufacturing rights clearly defined in contracts because they are keen to push the deal through, so they end up stuck in complex IP issues. Don’t let this mistake happen for your client, and ensure you clearly include confidentiality, non-competition, and manufacturing limitations in your contacts.
Don’t pass over Lead IP
Either you’re an IP firm, IP Service provider, or In-house counsel, you can use Lead IP tools and databases to grow. Lead IP provides your firm with unlimited access to all Madrid Protocol trademark activity and the ability to post tenders (RFPs) globally.
We are here to accelerate the Intellectual Property industry. It has never been easier to find new clients. We are disrupting the traditional methods of client and case acquisition. With publicly available data on global trademark activity, we created tools that use unprecedented methods to market IP firms across all jurisdictions. Lead IP is your new marketing gateway and can put your firm’s name on every IP lawyer’s and holder’s desk.
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