Join Geldards and Abel & Imray at a free breakfast seminar
Geldards and patent and trademark attorneys, Abel & Imray, are running a series of free breakfast seminars covering the practical and commercial steps businesses in the life sciences sector should be taking to protect, develop and exploit their valuable IP.
Places at these events are limited. If you are interested in attending these valuable sessions or would like a discussion with one of our leading IP specialists, please contact us here .
Helping your life sciences business reach its potential
In this brief article Geldards discusses the ways in which our Life Sciences Team can assist businesses operating in the life sciences sector with the protection, development and commercial exploitation of their valuable intellectual property (‘IP’) assets.
Our specialist lawyers can advise and guide your business through the processes and legal documentation needed to ensure that its IP is adequately protected and realises its full economic potential.
A strategic approach
The IP of a life sciences business is one of its most valuable assets. Having a robust strategy for the management of such IP allows a life sciences business to protect its technology, gain an advantage over its competitors and generate revenue from the commercialisation of its products.
A successful IP strategy requires that a life sciences business takes a holistic and tailored approach, which will include:
- paying close attention to its own internal policies and agreements to ensure that employees and contractors behave appropriately and that all IP rights generated are retained within the business;
- putting robust commercial agreements in place to ensure that any arrangements with third parties are properly documented and the IP rights of the business are protected; and
- taking advice from specialist patent and trademark attorneys regarding any IP rights that can be protected by registration.
Protecting your business’s IP
Life sciences businesses will often need to share know-how, trade secrets and discoveries with employees, contractors and third parties. The sharing of such sensitive information can be a daunting prospect for many life sciences businesses who will want to guard against such information passing to competitors or unauthorised third parties.
In addition to providing your business with practical day to day advice regarding the security of your confidential information, the Geldards Life Sciences Team can assist your business with robust non-disclosure/confidentiality agreements with third parties. In addition, we can also assist you with your employment contracts to ensure that they are specifically tailored for a business operating in a sector where ideas, and the development of new products, are so important.
Developing your business’s IP
Often, the quickest and most efficient way of taking a new product to market is to engage with one or more third parties who may possess complimentary skills or be able to open doors to new opportunities or funding.
Depending on the way that you and your partners want to work together, the Geldards Life Sciences Team can advise and guide you through the entire process. Where this involves engaging with others to advance further research and development, we can assist with your investment and/or collaboration agreements with those partners. Equally, where you are seeking a partner to assist with your regulatory approvals, our specialist lawyers can advise you on your clinical trial agreements.
Exploiting your business’s IP
There are a number of different ways in which a life sciences business can exploit and commercialise its IP assets, all of which, at some point, involve sharing or disclosing the IP with a third party.
For example, if your business decides to take its products directly to market, it is highly likely that you will need to engage with one or more manufacturers. Alternatively, your business may decide to license or assign its IP to a commercial partner, so that it takes a product to market instead.
Whatever route your business decides to take, our Life Sciences Team can assist you with your manufacturing, licensing and/or assignment agreements to ensure that the commercial arrangements are properly documented and deal with all the issues at play.
Further information and advice
If you require any further information or legal advice, please contact David Beynon or another member of our Life Sciences Team.