IP Disputes – The Trade Mark Minefield

In today’s entrepreneurial age, the importance of intellectual property (IP) protection cannot be overstated. The increase in new businesses being incorporated and the growth of existing ones creates a complex landscape where clashes over trademarks, copyrights, and patents are becoming more common and the recent case involving the luxury good giant LVMH  highlights the challenges smaller companies face when larger entities oppose their IP applications.

This case, the details of which can be found here, is your typical David v Goliath battle. A Norfolk couple applied to register the trade mark LV Bespoke to protect its home and gardening business.  LVMH, perhaps unsurprisingly given the value of the brand, objected to the registration arguing that it was too similar to their mark and an attempt to ride on the coat tails of Louis Vuitton’s reputation. Usually at this stage the minnow would back down in the face of such opposition but L V Bespoke stood their ground and after 2 years and £15,000 in costs they won and succeeded in getting their mark registered.

This case matters because often smaller companies cave in to those with deeper pockets and expensive lawyers and it doesn’t come without cost. If a company is forced to change its name or pull a product from the market following an IP dispute, the costs can be devastating.

So, to avoid IP  disputes please consider the following points when creating and exploiting your IP:

Legal Guidance: It’s crucial to seek early legal advice from a qualified intellectual property attorney. They can guide you through the process, help you navigate potential objections, and provide valuable insights for a successful IP strategy.

Proactive Protection: Don’t wait until a dispute arises to think about IP protection. Registering trademarks and patents early in the business development process can be a proactive measure to prevent future conflicts.

Documentation: Keep detailed records of your IP creation and use, including dates, prototypes, design processes, etc. This documentation can serve as evidence in case of a dispute and strengthen your position.

IP Strategy: Develop a comprehensive IP strategy that aligns with your business goals. This may include licensing agreements, monitoring competitors’ activities, and actively enforcing your IP rights when necessary.

Regular Audits: Periodically review and reassess your IP strategy. This is especially important as your business evolves, launches new products, or enters different markets.

Take out IP insurance: This will level the playing field by funding any oppositions/litigation that arises. It will enable you to enforce your IP as your business grows

IP is a hugely important tool for adding value to a business but, unfortunately, the system is not perfect. The process of acquiring rights can be lengthy, complicated and expensive and often those with the deepest pockets are able to game the system most effectively. However, by seeking sound professional advice as early as possible and putting IP insurance in place, you too can use IP to protect what you  have worked so hard to create

For more information on how to obtain a quote for IP insurance, get in touch today or complete the form here

Meta takes steps to protect intellectual Property online

 

Just a quick not to make you aware of additional tools Meta are making available to help brands stop infringement of their Intellectual Property (IP) rights on Facebook. Many of my clients are concerned about their trade marks being ripped off online and the changes to Meta’s reporting procedure should make it easier for brands to highlight concerns and have action taken.

Further information can be found in their press release here where Meta sets out the steps it has taken to help IP right holders on the site.

Remember, if you are concerned a third party may copy your IP whether online on elsewhere or that you could be sued for infringing a third party’s rights then IP insurance can mitigate this risk cost effectively.

All you need to do is complete the form at the link here and we can obtain a quote for you within 48 hours.

IP right holders across the UK and Europe now rely on IP insurance to enable them to take decisive legal action to protect their IP and their businesses. Action they would not be able to take otherwise.

Get in touch today.

Great Patents Need Insurance

Sometimes you have to hold your hands up to the genius of humankind. A colleague was recently at a cricket match and saw a man carrying this multi cup beer holder and anyone who has had to carry multiple pints without this device will know what a life saver it is. No more having to walk away from the bar at 1mph, no more spillage and most importantly, no more fear of dropping the lot!

On further investigation, it appears the clever entrepreneur who invented this beauty has also taken steps to protect it by registering intellectual property, in this case a patent (see the drawing below). This is very sensible as I am sure we will soon be seeing this device in sports stadiums around the world.

So not to be left with a bad hangover, the next sensible step will be to buy a patent insurance policy to mitigate the risk of this device being copied.  Unfortunately, as with all successful IP, larger competitors are bound to want a piece of the action but a patent insurance policy would level the financial playing field and allow action to be taken to stop any copycats.

If you’d like to get a quote for patent insurance please head here to complete our short form and we’ll obtain a quote for you within two working days. The policies will cover the cost of enforcing rights against infringers and also defending claims that you have infringed others rights. Premiums start from around £80pm for UK cover.

Its vital cover is in place before any potential claims arise so don’t delay and complete our form today.

 

The Star Wars Intellectual Property Reveal

LucasFilms are notoriously protective about future projects and for good reason. The leaking of plots, stills and videos of new releases can hurt sales. However, there is one element they cannot keep under wraps and that’s their Intellectual Property registrations,

As reported in the online magazine Fansided here eagle eyed Star Wars fans noticed that on 26th July 2022 Lucasfilm filed three new trademarks for the terms, “The Great Circle”, “The Galactic Circle”, and “Circle of Resistance.” Now, at this stage, not many people know what these trade marks will ultimately be used for but as the article points out, it doesn’t take a big stretch of the imagination to assume they will be used in connection with a new Star Wars movie – And if that’s true, don’t forget you heard it hear first.

Until then, May The Force Be With You!

 

 

Patent and Trade Mark insurance

Safeguard iP

In today’s modern economy company value is predominantly tied up in intangible assets such as brands, innovative product or process, copyright or trade secrets etc and whilst most businesses insure other (less valuable) business assets like buildings, stock and staff they overlook Patent Insurance and Trade mark Insurance to protect their most valuable asset.

In an environment where it is cheaper to copy then create, there is always a risk that successful IP will be ripped of by a competitor. Copycats take the view that smaller businesses wont have the funds to stop an infringement of their rights and often this assessment is accurate, given the significant costs of enforcing IP rights through the courts. IP insurance levels the playing fields and allows smaller companies to fight back and preserve the value of their intellectual property.

The cost of intellectual property insurance starts from as little as £100pm for UK cover, so there is every reason for IP rich businesses to consider putting IP insurance cover in place, before its too late. Its vital to protect investment in IP today!

If you’d like to learn more about the benefits of Patent insurance and trade mark insurance go to our website here and if you’d like a quote you just need to complete the short form here and we’ll get back to you in 48 hours.

 

 

FICPI World Congress 2022

I am delighted to have been asked to share my knowledge of Patent, Trade Mark and Copyright insurance at the FICPI World Congress, which is taking place in Cannes in September. This congress will be one of the largest gatherings of IP Attorneys in the world.

I will be talking about how SME’s can mitigate the cost risk of Intellectual Property litigation by having a robust insurance policy in place.

If you are attending the event please let me know so we can set some time aside to meet.

If you are not attending, I shall post my presentation on this site after the event.

In the meantime, if you are concerned about the risk of IP litigation please read up about the benefits of having cover in place here and if you’d like to obtain a quote please complete the short form here