Q&As

If the Treasury Solicitor has disclaimed property for example IP belonging to an insolvent company, what is the effect of the disclaimer where a party is looking to purchase the IP from the crown?

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Produced in partnership with Chris Hoole of Appleyard Lees
Published on LexisPSL on 21/07/2017

The following IP Q&A produced in partnership with Chris Hoole of Appleyard Lees provides comprehensive and up to date legal information covering:

  • If the Treasury Solicitor has disclaimed property for example IP belonging to an insolvent company, what is the effect of the disclaimer where a party is looking to purchase the IP from the crown?
  • Purchasing disclaimed bona vacantia IP

Immediately prior to dissolution of a company in the UK, whether following administration, liquidation, striking off or voluntary dissolution, all property and rights which are left behind in the dissolved company are considered bona vacantia or ‘vacant goods’. Bona vacantia goods vest in the Crown and are governed by the Companies Act 2006 (CA 2006).

As with any property rights, intellectual property rights, such as registered trade marks or designs, fall within the scope of the bona vacantia rules and will also vest in the Crown on dissolution.

However, there is one exception—the Crown’s statutory power, with or without notice, to disclaim or to give up its interest in bona vacantia. If property, including IP, in bona vacantia is disclaimed it is treated as though it never passed to the Crown (CA 2006, s 1014). By disclaiming its rights in the property, all interests and liabilities of the dissolved company in the disclaimed property are term

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