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Summary Intellectual Property on Share and Asset Sale - Private Acquisitions £2.99   Add to cart

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Summary Intellectual Property on Share and Asset Sale - Private Acquisitions

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Condenses all the reading, lectures and SGS activities to about 30% the original volume. Clear, Concise and Organised.

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  • May 12, 2023
  • 6
  • 2022/2023
  • Summary
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JCBLAW
6. INTELLECTUAL PROPERTY (IP)

IP RIGHTS

 Most IPRs are national rights – protected in one country only
o Typically business owns parallel national rights in other countries

 Registered IP rights = Discoverable through public register searches – IP Office
o Patents
o Registered Trade Marks ™
o Registered Designs

 Unregistered IP rights = Difficult to research b/c no public registers
o Copyright ©
o rights in passing off
o Unregistered Design Rights (UDR)
o Know-How (KH)
o Database Rights (DBR)

 + Rights of use of T under licences granted by 3 rd parties

 NB where international IP rights, should ensure with local lawyers that T has all IPRs
needed to carry out relevant activities

, RIGHTS REQUIRING FORMAL REGISTRATION

UK PATENTS – Patents Act 1977
 Patents = monopoly right to use and exploit an invention for a limited period – allows holder
right to prevent 3rd party from using invention without owner’s consent for duration of patent
o May be new product or improvement to product = Product patent
o May relate to new way of carrying out process = Process patent
 Once granted it gives owner right to prevent others from making, using, selling or importing
the patented product/process without permission
 Registered at UK IPO
 personal property right that can be assigned, mortgaged, charged or licensed

Requirements
1. Novelty – only granted for new invention (previous disclosure to public prevents granting)

2. Inventive step – it must not be obvious to a skilled person familiar with the relevant field

3. Capable of industrial application – must be made or used in some kind of industry inc.
agriculture (low hurdle)

Exclusions
 Statute specifies some things are not inventions
o E.g. a discovery, an aesthetic creation
 Certain categories not patentable
o E.g. medical treatments such as a new kind of operation

Duration
 20 years from date of filing app – subject to renewal fees being paid
 Owner should pursue any infringement to avoid later claim by 3 rd party that patent is invalid
due to inaction of owner


UK TRADE MARKS - Trade Marks Act 1994
 ™ = sign capable of distinguishing goods/services of one undertaking from another – must
be represented graphically to appear on ™ register (not inc. domain names)
o Proprietor has right to prevent ™ use by others in the course of trade in the UK
without consent
 Most are words, made up words or logos – can be 3D shapes e.g. Coca-Cola bottle
 Cannot be registered if 3rd party already has rights in same mark
 Registered at UK IPO
 personal property right that can be assigned, mortgaged, charged or licensed

Duration
 Provided renewal fees paid every 10 years = indefinitely
 May be revoked if not used continuously for 5 year period after registration
 Owner should pursue any infringement to avoid later claim by 3 rd party that patent is invalid
due to inaction of owner

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