The following Restructuring & Insolvency guidance note Produced in partnership with Brett Israel of Marriott Harrison LLP and Pippa Hill of DLA Piper provides comprehensive and up to date legal information covering:
In some insolvencies, the insolvent company’s major asset is its intellectual property (IP). In such circumstances, it will be important for the insolvency practitioner and their staff to understand the extent of the assets over which they have control and which, ultimately, they might seek to sell.
Many companies have some form of IP or quasi IP which may have realisable value and it will be important for the insolvency practitioner to assess this to fulfil their duties as administrators. Such property could include trade marks used by the company, a trading name, copyright in company ‘works’, patents for products manufactured or sold by the company or indeed a licence to use patents owned by someone else.
The starting point is to evaluate what assets the company has and what, if any, value they have.
The insolvency practitioner will probably need to carry out checks of IP registers and obtain expert IP valuations. The insolvency practitioner should also carefully assess the company’s asset registers and balance sheets to see whether they reveal any IP assets. The most common scenario in which insolvency
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