Reliance on information technology in our daily life has brought about increased participation by individuals and small businesses in the internet economy. Goodwill, brand recognition and intellectual property are likely to be created and these are protectable under the various branches of laws, such as copyright, design, patent, trademark, passing off, the fiduciary duty of confidentiality and restraint of trade covenants.

 

Say a business fell out with a third-party internet service provider, i.e. online practice management software that stores client information and records, over some payment and maintenance of system issues, who is the legitimate owner of the data? Can the internet service provider retain a lien over the data with the effect of shutting down if not disrupting the business operation? The case involves novel and distinct intellectual property issues.

 

On the other hand, if you create a functional online business model, you should identify clearly, among other things, the creative input you made toward the functionality of the model. This is the greatest challenge posed to many creative individuals and innovative businesses:

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1. need to fully appraise the value of their intangible assets; and

2. guard its protection, management and commercialisation.

 

We a holistic and strategic approach to intellectual property issues and can advise clients to manage their intangible assets so as to derive value from them. Coupled with the data input, you should place yourself in the position to transform your intangible assets to generate and sustain competitive advantages.