What will you take from party?

Strong partnerships grow from a shared asset base. 

At some stage your business may well consider a partnership or collaboration. For this to be a success your business will need to ‘bring something to the party’ and in most cases this will be intellectual property. In some cases the sole reason for the invitation will be to gain access to your intellectual property. 

Having a clear understanding of what all your assets are and their relative value to you and the partner is so important when entering such an arrangement.​

Photo courtesy of Claudio Schwarz on Unsplash

Having a clear understanding of what all your assets are and their relative value to you and the partner is so important when entering such an arrangement. An intellectual property asset register or audit is a useful exercise before entering into such arrangements.

It is essential that there are very clear agreements as to what happens to the IP each partner had at the outset and who owns and can use any co-developed intellectual property after the party. ​
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Treatment of trade secrets needs special treatment because if they are shared outside the agreement, the secret is lost. 

If you are considering partnerships or collaborations please do get in touch for a free consultation

Get in touch today

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