Entrepreneurs sometimes miss important steps in the process of protecting and maintaining their IP right. In some cases, when such mistakes are found they are difficult to correct.
Common mistakes that can be easily avoided by an IP holder include:
1. What is IP and why are they important to any business, especially Start Ups?
2. Identification of IP Assets
3. Disputes over ownership of IP – especially in cases of collaboration:
· Who owns the IP?
· Are all collaborators co-owners of IP?
4. Mistakes made while acquiring IP:
· Have you acquired rights from your brand designer?
· Have you checked title documents for the IP you are acquiring?
· Does the seller have any residual rights?
· In the creator an independent contractor or an employee?
5. Why great brands are not always great trademarks:
· How to christen the child?
· Descriptive brands have great recall value but are the poorest brands – Can this be cured?
6. When the timing is not right
· Is it a good idea to share your IP before protecting it?
· When IP holders take too long to take action
7. IP today, gone tomorrow – maintaining IP
· Can you lose your IP rights after you acquire them?
8. Inconsistent positions of IP owner
· Can the IP owner take inconsistent positions about its rights?
9. Minimal investment in protecting IP
· Being unaware of unique provisions of law
· Inadequate protection for IP
10. Selective disclosure to IP counsel
11. (Accidental) infringement of another’s IP
· Have you carried out freedom to operate searches?
12. Not knowing the limitations of IP
· Steering clear of issues like competition issues, groundless threats proceedings etc.
About the speaker – M.S. Bharath
Bharath a Senior Partner at Anand and Anand, India leads the Chennai City Office practice since June 2009.
His practice includes Intellectual Property litigation before Indian High Courts, opposition, cancellation and other related proceedings before the Trademark Office, Intellectual Property Appellate Board (IPAB), Copyright Board and Geographical Indications Office. He has been the lead counsel in numerous appeals, rectification and original proceedings before the High Courts of New Delhi, Chennai and IPAB with several reported decisions to his credentials.
Over the years he has advised and managed large portfolios of several India based multinationals in the field of telecommunications, footwear and Fortune 500 companies engaged in diverse industries including footwear, luxury products, tobacco, brewing, automobile and consumer goods. He also counsels clients on assignments, licensing, co-existence, franchise and other transactions related to intellectual property. He has been a speaker at and organized various national and international forums.
He was instrumental in successfully restraining unauthorized use of the famous Tirupati Laddu, a registered GI in India apart from prosecuting GI applications towards grant for various national and international applicants in India including those for Baidagi Chillies, Tequila and Scotch.
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