IPStyle lawyers talked about life hacks of contractual relations and how to avoid risks to business with their help

2020-02-13

At the beginning of our business or any cooperation with employees or contractors, we often believe that we have found reliable partners, that the contractors have a strong portfolio, nothing will happen. Of course, we can’t control everything and suspect “treason” from the very beginning. But it is better to take care of your rights in advance, and there is nothing wrong with that. That is why contracts exist and will help to dot the i’s and cross the t’s in a moment when things go sideways.

We spoke about this at the meeting “Intellectual property traps. Contract life hacks to protect your IP rights.” Our managing partner Mariya Ortynska and lawyer Nataliia Minakerman, using real-life cases as an example, described what issues might arise if not to reach an understanding before going into cooperation together.

Why is it worth to conclude a contract on a joint intellectual property even with the closest partners? And who owns the copyright for the website design? And will a new beverage recipe made at the enterprise in off-hours be considered as work for hire? Intellectual property law allows you to set frameworks clearly and provides numerous tools to preserve your resources.

What surely should be kept in mind?

  • always conclude contracts with partners on the procedure for using joint IP objects and do not forget what objects you have, how, under what circumstances they were/are to be registered/patented;
  • conclude written work contracts counting precise job responsibilities with employees;
  • remember that the written form of the contract for managing IP rights is a commandment No. 1 (any agreeing on the contract terms via SMS or conference-call is taboo!).

Intellectual property traps are that “friend” who will count against you and your business if you do not play it safe on time. And the contract is your guarantee, that will help to avoid many risks in the future.

If you need more details regarding your specific case, you can always contact our specialists: office@ipstyle.net.