The Order in Intangible Assets Portfolio must be Ideal

Authors: Violeta Sutkiene, Associated Partner, Head of the Trademark and Design Division at METIDA and Daiva Bukniene, Head of Searching and Watching Division, Coordinator of International Relations at METIDA

Screen Shot 2014-05-01 at 10.18.32When managing and assessing company’s property, both physical and intangible assets should be equally taken into account. Even though the latter is often considered to be part of the grey zone, the intangible assets have a particularly strong impact on today’s competitive market of goods and services.

When protecting, developing and managing the intangible assets, one should follow a principle that a systematic order must be everywhere, but in the portfolio of intangible assets it must be impeccable!

Today we live in abundance. The excess of information, goods and services provides us with lot of opportunities. On the other hand, this situation is also chaotic and requires systematisation and order in all portfolios.

That is why we have created IP MARKET, a website where intangible asset portfolios are processed and where the current and future proprietors of the intellectual property (IP) objects meet. Subsequently, these meetings can bring financial benefits for both parties. We briefly present some reasons why it’s worth buying and selling the IP objects.

Worth selling because… Worth buying because…
You updated your portfolio. The company has decided to update the selection of goods and thereby, ceases to use some trademarks. However, the trademarks are registered and still valid. Hence, why not sell them to others?asdadddddddddkajshajshajs The marks’ resources are decreasing. Every 5 minutes the European Community Trademarks Registry is filed with 100 trademark applications. These days creating and registering a trademark successfully  is becoming increasingly hard, as new marks are created every day. Therefore, you will never escape the possibility to infringe earlier trademark’s rights belonging to the third parties with your newly registered mark.
You audited your trademarks’ portfolio. After having organised the IP portfolio, it often turns out that something was simply forgotten and unused. Giving it to others would be a sensible move. You acquire a final registered object. You can rest assured that the product launch costs will not go to waste if mark’s registration was refused in case of new mark’s registration.
Your company merged with another. You made a decision that there is a need to put to use the IP resources that are surplus. The registration practice change. The trademark requirements are becoming more demanding. For instance, the marks must have stronger than ever distinctive characters. Thus, registering a new mark has become more complicated. Research, which trademark registrations are being sold.
You do not want to pay annuity fees. If you have a registered domain name which is not being used and the annual payment is unprofitable, sell it. You require a license. If you want to use another legal entity’s trademark, design or invention, sign the license agreement.
You create. If you are a professional designer and create marks and designs for companies which you have accumulated, you can offer others to buy your final product. You do not want to waste your time on trademark creation. If you are developing a new product or intending to provide a service and you need a mark, but you lack the time for creative collaboration with a designer and you want to have a choice from several options, you can simply pick any option from the online store of final designers’ creations.
To sum up – get the most out of what you do not use! To sum up – acquire IP objects by reducing registration risks.  You will get fewer questions and buts when purchasing!
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