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Safeguarding intellectual property in Kentucky mergers

On Behalf of | Jul 8, 2024 | Business

When two businesses decide to join forces in Kentucky, the excitement of growth and new opportunities is often at the forefront of everyone’s mind. However, amidst the handshakes and planning meetings, it’s crucial to remember the importance of protecting your intellectual property (IP).

What is intellectual property?

Intellectual property represents creations of the mind that your business has legal rights over. This includes:

  • Inventions
  • Literary and artistic works
  • Designs
  • Symbols
  • Names
  • Images used in commerce

For a small business, this might be as straightforward as your company logo, business name, or proprietary technology.

Identifying your IP assets

The first step in protecting your IP during a merger or acquisition is to clearly identify what constitutes your intellectual property. Conducting a thorough audit of all your IP assets is essential. This process helps in cataloging everything from trade secrets to registered trademarks. 

Legal protections in place

Once you have a list of your IP assets, ensure you have legal protections in place. This involves registering trademarks, patents, or copyrights as needed. Legal protection of your IP gives you enforceable rights that are especially important during the turbulence of a merger or acquisition.

Managing IP during the transition

As you merge or acquire another business, the integration of intellectual property requires careful management. Establish clear protocols for the use of IP and monitor compliance to ensure that your assets remain secure. It’s also vital to educate new team members from the merged or acquired company about the importance and handling of IP.

Time to take stock

As you move forward, remember that protecting your intellectual property is an ongoing process. Regular reviews and updates to your IP strategy ensure that your business’s valuable assets remain protected, allowing you to focus on growth and innovation.

To discuss this or other legal issues, please contact Kerrick Bachert at 270-782-8160.