Business professionals learn how to safeguard their intellectual property

Partner, Paul Gordon and Randall & Payne’s corporate tax manager, James Geary spoke to 30 business owners and marketers about the legal and tax considerations of intellectual property, at an event organised by CIM Gloucestershire on Tuesday evening.

Corporate tax manager, James Geary from Randall & Payne, partner Paul Gordon of solicitors, Willans LLP with CIM Gloucestershire chair, Luan Wise and CIM South West regional board chair, John Taylerson.

Paul, a Chambers UK recommended solicitor with a specialism in intellectual property, talked about the different types of intellectual property and points to consider with advancing technology in the marketplace. He also provided advice relevant to the development of new products and services, and gave tips on how to handle a potential dispute.

Paul shared:

“While there are a number of intellectual property rights which cover a wide spectrum, two key points to remember are to keep a paper trail as a record to prove the work is your own, and to make provision for intellectual property in your contracts to ensure you retain ownership.”

James focussed on the tax implications of intellectual property, highlighting key opportunities to harness tax breaks from the government and the importance of getting business structure right early in the business life cycle.

James commented:

“The main considerations to take away are not to incorporate too late due to tax charges on transferring IP assets, and not to overlook Research & Development Tax Relief, the application of which is so much wider than most people realise!”

The event took place at The Growth Hub, University of Gloucestershire’s Oxstalls Campus hosted by CIM, the world’s leading professional marketing body.

CIM Gloucestershire branch chair Luan Wise said:

“This event was a real eye-opener and a great reminder to take a step back and really think about brand assets and business processes – to make sure they are protected. A great start to our autumn programme of events.”

Willans next seminar is on employment law and takes place in Cheltenham on 22 September. To read of our forthcoming seminars please visit our events page.