How to Use IP to Expand a Business Geographically

Intellectual property (IP) is a central component of business growth in the UK. Indeed, IP is an intangible property that sets a foundation for businesses to expand globally. It creates a brand, highlights critical aspects of a business and helps to create trust. Although, your IP must be strong to protect against competitors. This article will discuss how you can use intellectual property to expand your business across multiple countries.

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The Importance of IP Rights

IP rights are valuable assets that can assist in economic development worldwide. The Intellectual Property Office (IPO) governs the IP system in the UK, which manages all applications to register IP, such as: 

• trademarks; 
• patents; and 
• design rights.

They are intangible assets that can often be a business’s most valuable asset due to their branding and reputational power. Therefore, it is crucial to protect your IP rights through registration to gain the ability to challenge anyone who tries to use your IP without your consent.

Trade Mark Protection: Use Your Creativity to Grow Your Business

Trademarks can also assist businesses of all sizes and all industrial areas. Trade marks must be unique and distinctive for your business and its area(s) of trade. Therefore, your creativity can flourish in this area, and you will be rewarded by successfully gaining legal protection over a unique business identifier.

In terms of geographical expansion, you can use trademarks across multiple countries and break language barriers. For example, a logo or symbol can be recognised in any country as there is generally no English language requirement to understand. You can apply to register your trade mark with the IPO in the UK and then apply to the European Union to protect your mark within EU member states.

Equally, you can seek to register your mark across wider international borders with tools such as the Madrid Protocol.

Licensing Your IP Rights 

Another option to expand geographically is to enter a licensing agreement with another business. This can assist you if you need help to expand into a new market that the licensee has access. Further, licensing agreements allow businesses in the UK to expand into new markets, such as the EU and take advantage of other businesses’ established connections. For instance, you can gain:

• manufacturing connections;
• distribution access; and
• a fixed fee or agreed royalties.

Innovation and Economic Growth

UK businesses constantly seek to expand into new geographical areas to capitalise on international markets. Whether you are a products or services-based business, you can expand into new markets such as the United States, developing countries or EU member states following the withdrawal agreement. Your intellectual property can allow you to expand through marketing and branding and using innovative methods to increase your visibility. Your IP use can impact your growth and should therefore be proactively used as a tool in building your business.

Key Takeaways 

Intellectual property is an essential tool that can grow your business geographically across multiple new markets. Whether you are making a patent application or seeking to register a trade mark within the UK, these protections can be mirrored internationally by following the correct application process.

If you need help or advice around expanding your business through intellectual property, our experienced intellectual property lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 0808 196 8584 or visit our membership page.

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