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Intellectual Property and Financial Distress

Our practical experience is that to maximise the realisable value of IP in a financially distressed business, swift action is necessary.  Frequently, patent applications and trade mark registrations will not have been maintained as efforts have concentred on fire fighting.  Focussed remedial work – often multi-jurisdictional – can however restore value to the IP rights portfolio. Failure to have an appreciation of the unique and complex issues involved in managing intellectual property assets could, on the other hand, result in a devastating impact on the prospects of rescuing the business.

A recent example of adding value is where we were able to secure significant additional funding for a period of 9 months to enable us to trade a business while it was in administration.  This allowed us to implement a rescue plan, whilst protecting the company’s perpetual software licences, which ultimately allowed us to preserve the business with a return to the unsecured creditors in full.  Through the constructive use of insolvency procedures, we were able to rescue a company that had run out of cash.

 

 

Date: 20th February, 2014
Author: Chris Laughton

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