Attire Accessories - Jul/Aug 2019 (Issue 77)

ACID 23 BACK TO BASICS In the first of a two-part series, Dids Macdonald examines why IP matters Having been immersed in the creative industries sector, whether in the interior design world or as CEO and co- founder of Anti Copying in Design (ACID), there is no doubt that the intellectual capital underpinning the UK’s impressive design sector is significant. What do I mean by that? Intellectual capital is the intangible value of a business, covering its people. It’s what sets you apart from your competitors, often described as human capital, your know-how, creative ability, design talent or technical skill. It’s also about the value relating to your business relationships. Think about your client base, the special relationships you have built, for example – often, this is described as your relational capital. And of course, not forgetting what is left when the employees go home. You may own or rent a building, and this is the structural capital of your business. In the same way you may think about the property you own or rent, intellectual property is exactly the same; it is a property right and a key part of your intellectual capital. So in the same way that you can own, rent, sell or share your property, your intellectual property is exactly the same. The bottom line is you don’t want squatting or anyone using your home or business premises without your permission. So maybe it’s now time to go back to the start and really examine this important asset to ensure that you know and understand the basics. Intellectual property protection is even more paramount in the context of today’s political and economic challenges. Do you know what intellectual property rights you own? There are four main types of intellectual property right. These are copyright, design right, trade marks and patents. Every business will own some degree of intellectual property, and if you are a creative or design business, then this will most likely form the major asset value of the business. It is important that you consider your business assets and what rights you may have in them. As a general rule, copyright covers artistic or literary works, also think images on your website, any technical data, your marketing material; design right covers the shape of products that are new or not commonplace and trade marks cover brands, logos and company names. Patents are for new inventions. You can learn more about these rights on the ACID website or by attending an IP masterclass run by ACID. If you have specific questions, as an ACID member you can also make use of free initial legal advice from an ACID legal affiliate. Do you know all of the intellectual property rights available to you? It is important that you know which rights may be available to you or your business in order that you can maximise the protection of those rights. If you have created an original work while being a resident in the United Kingdom, then that work will qualify either for copyright protection (if artistic) or design protection. Design protection relates to both your UK design right and also to EU design right protection, though this may change with Brexit. Anybody can register a trade mark for a word, phrase or logo so long as the mark is not descriptive of the goods or services it is intended to cover. If you do not register a trade mark, you can still have rights in something if – through your use of it – you have developed a reputation in the market associated with the particular word, phrase or logo.