COVID-19 is highlighting companies’ weaknesses and challenging their strengths. For companies with key intellectual property (IP) assets, those challenges take on a special level of concern for in-house counsel.
Companies today are expected to have detailed and multi-faceted social media touch points with customers and stakeholders. This does not mean that advertising law has suddenly relaxed, or that corporate legal obligations in each legal jurisdiction have gone away. In many cases, with new digital privacy and consumer protection laws and regulations going into effect around the world regularly, the legal field is more complex than ever.
In today’s global and social media driven world, brands have become the currency of international trade. For in-house counsel, high quality brands provide a bond of trust with your client’s consumers. Ensuring that your client’s brands are legally secure and high quality is challenging. This is an issue all in-house counsel face. It is particularly challenging in the case of brand migration.
The lack of consistent international norms, and the presence of distinct legal requirements for maintaining and reporting intellectual property in different countries, continues to challenge global counsel. This requires a skilled set of hands in ensuring that country-by-country legal requirements are met, while developing and implementing a highly efficient overall global portfolio strategy.
In this article, we draw from hundreds of due diligence processes in intellectual property that have been undertaken in both multi-hundred-million dollar transactions and day-today operations. Through this experience, it is easy to conclude that, while intellectual property is a specialized subject matter giving rise to unique issues, it is essentially the same as any other asset being examined for acquisition.